All Forum Posts by: Kathleen McDowell

 Hello John. I have a client exploring a new build (her home recently burned down).  Would love to learn estimates of cost to build per sq ft in Fountain Hills AZ.

Hello. Looking for estimates from builders/contractors on cost to build in Scottsdale/Fountain Hills/Phoenix. House would be SFH, one story, roughly 3,000-4,000 sq ft, 4 -5 bedrooms 3 baths. Not looking for cost of land, simply high level estimate cost of construction per sq ft for the build only. I realize there are a ton of variables, but appreciate everyone's insight!

Not at the moment, but will let you know! Only have someone looking in Fountain Hills right now.

Thanks!

Thanks @Account Closed I cant find his contact details. Can you provide?  Appreciate it.

Anyone have a lawyer they would recommend in Maricopa Co, Scottsdale area to represent the landlord for an eviction trial?

You're wise Henry. It's best to turn them down and have the people set up their own account. They could be underage, have previous bad reviews, or a number of other things that would put you at risk. I handle them by informing them that its the platform's rules that as a host, you need to abide by.

Hi Stacey. There are a number of steps I recommend taking to help you progress.

1. The MOST important step is to decide whether its a:

- holiday home that you'll rent to offset some costs when you're not using it

- An investment property that you'll visit on your holidays (be prepared to spend holiday time on upkeep, repairs and maintenance)

because this question will determine how you approach and analyze the property.

2. If its the first one - then just determine if your family is the type that likes to visit the same place over and over and if so, look for drive-able distances, as it's easier to make a last min decision to head to the holiday home when it's not booked.  You cant do that when you have to book flights. Think about the types of things your family likes to do together - quiet time to connect in nature (mountains/lakes)? Loads of activities and amenities (the beach)?

3. If its the second one - then you need to create a list of criteria. It should be driven by maximizing occupancy. This means it should be an area that is:

A. Popular in all 4 Seasons

B. Easy to get to from a number of larger cities by car

C. Preferably not oversaturated with existing STRs and more 'up and coming'. Read travel blogs to get ideas and then validate those with data from sources like AirDNA. 

Once you have it narrowed down to 2-3 locations max, engage the help of a realtor experienced in STRs, who can help you with the deal analysis.

Best,

Kathleen

Agree with others, your agent needs to note that no further concessions will be made.  In AZ we have 5 days to reply to buyer's request for repairs/concessions. Once we reply that none are being made,  they have 5 days to respond that they are going to cancel or move on with understanding that no concessions or repairs will be made. It is very straightforward.

When you're ready to explore your 1031 options, let me know. I have a 1031 exchange company in AZ that I have partnered with and recommend.  You'll need to consider the amount of your sale and purchase. If you sell a property and your new replacement property doesn’t replace the total value of your sold property, the additional value you receive and don’t use (called boot), is taxable. E.g. if your replacement property’s mortgage is $110,000 and your relinquished property’s mortgage is $120,000, then you will have $10,000 in mortgage boot.  Reach out when you're ready for that next step. Kathleen