All Forum Posts by: Melissa Romano

I moved here a few years ago to house hack as well. I purchased an affordable 3 BR townhouse in late 2017 with a low monthly payment that allowed me to purchase two additional 1-bedroom condos for short-term rentals. We've been slowly renovating the townhouse (mostly paint and countertops to be honest) and are about to list it for $60-70k more than what we paid for it. We put less than $10k into it. I'm also selling one of my rental condos for about $30k profit after owning for less than a year. My rental condos make between $35-40k per year in rent, mostly in the spring. 

I just closed on a new SFH that will cost about the same monthly as our townhouse by subsidizing with sale profits and rental income. And we get our own 4 walls, a pool, the ability (and experience) to renovate a house to be exactly what I want, and a great location in Scottsdale after less than 18 months of my version of house hacking.

There are tons of ways to house hack, and since the multi-family inventory is so low, getting creative can really pay off and be much less stressful (and enjoyable) than trying to fight for every multi-family in Mesa that pops up. Plus the ability to be close to work is unbeatable. Happy to brainstorm with anyone reading this or advise as a local real estate agent. 

Sending you a PM now. 

Hi Timur, happy to connect if you'd like to discuss. I own two renovated & furnished one bedroom units in Scottsdale that I'm looking to sell in the next 6 months. My units stay 90+% booked in the high season, and I've been able to find a month-to-month tenant during the slower summer months. Walkable to restaurants, bars, and the mall, and just a short bike, scooter, or Uber away from baseball stadiums for spring training. I'll send you a connection request, and we can talk further if these appeal to you! 

Hi David, I'm a STR owner of 2 units in Scottsdale. I'm also biased toward Scottsdale and have tons of recommendations to help manage your property if you're looking for them. Happy to connect if you'd like some.

Hey Jonathan, happy to connect if you have specific questions. I'm an Airbnb superhost as well and also list my property on VRBO, and I've been fully booked all year. Summer will be a bit slower, but it's still a great way to get a mortgage covered or generate income if you're able to pay cash. I would look for a single family home as there are only about three condo associations that currently allow short-term rentals, and those complexes are starting to evaluate and discuss changing regulations to restrict or ban short-term rentals. My real estate agent @Ryan Swan is a rockstar and has helped a few other clients close on Airbnb properties in the Scottsdale/Phoenix area.

+1 for Tim @ Quickline Capital! I found a deal on a Saturday morning and had a few other lenders on the phone who told me they couldn't get me an approval until Monday morning. I got a hold of Tim that afternoon after seeing this post and had an approval within 30 minutes!