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All Forum Posts by: Ric Kenworthy

Ric Kenworthy has started 8 posts and replied 26 times.

Post: Airbnb Management Scottsdale Arizona

Ric KenworthyPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 32
  • Votes 11

@Mollie Radden oh yes absolutely. Soon that’ll be me, but my buddy at Coldwell Banker Luxury, Johnny is very well versed and typically has me consult. I’m doing a pro forma for him now

Post: Airbnb Management Scottsdale Arizona

Ric KenworthyPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 32
  • Votes 11

My fiance and I have invested in multiple flip/hold condos near Old Town Scottsdale and are floored with the success. We had multiple guests that have enjoyed our condos and the area that are now clients. They literally bought places after staying in ours, that we now manage for them. So naturally we've built a business around it. The question is how much value does an investor put on the experience, knowledge of the area and rules, and status of the manager in a decision to utilize a full service management company? As 7 time Superhosts with multiple PLUS listings and a handful of properties we seem to get far better visibility than a fresh profile/listing so I would think that brings tremendous value to a fledgling listing especially with over 8500 competitors. 

Any experience with management companies for your STRs in Arizona? Good bad, or neutral?

Post: Airbnb Activity Scottsdale

Ric KenworthyPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 32
  • Votes 11
Originally posted by @DeWitt Gibson:

I am a Scottsdale native and I am considering the same thing. From what I can tell Old Town, Westworld, TPC, and Desert Ridge seem to be the hot areas. All the action is in the Winter and Spring though. I am not sure how they would fare over summer when it is crazy hot and not much tourist stuff happening. Something I am trying to sort out too.

 We were able to maintain over 80% occupancy and a very competitive rate throughout the Summer. Its a saturated market but approached the right way will attract business travelers year round.

Post: Airbnb Activity Scottsdale

Ric KenworthyPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 32
  • Votes 11

We have been operating 3 Airbnb's in Old Town Scottsdale for almost 3 years as well as a few more in Phoenix. We managed a handful more for clients. It's one of the best STR markets in the country with very little jurisdiction.... FOR NOW. It is heavily saturated, so if you're thinking of breaking in as a first time host you may consider a professional consultant to help steer you in the right direction. You can do a lot of damage towards your long term success in the beginning stages of a fledgling STR business in this market. If you're just looking to invest and let someone else do the work, and experienced, local management company may be the way to go. We do both for select clients if you're interested in more information.

Post: Small Business Loan or Investor?

Ric KenworthyPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 32
  • Votes 11

Looking out scaling our Property Management Company in Arizona and the response has been amazing. A handful of contracts in the works including a brand new Luxury Multi-plex in Downtown. Need some operating capital to set up and furnish the multi-plex plus fund the start up of a multi-purpose office/industrial space for our operations. 

What is our best and least expensive option? Bank loan or line of credit? Biz credit cards? or Investor? My wife and I both make a six figure income personally and the business is generating $70-80k year in gross revenue we just don't have the chunk we need to take the leap and really ramp this up.

Advice?

Post: 17 Unit Luxury Condo Bldg near ASU Tempe AZ

Ric KenworthyPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 32
  • Votes 11

features a portfolio of 17-single family detached fee-simple homes in an exclusive 38-home community located in a dynamic Tempe Town Lakes location that was built between 2015 and 2018. 16 of the 17 homes in the offering are fully furnished with designer finishes and include all living necessities for Airbnb and are on a master-lease at $3,050 per month thru 2022.
The community consists of two and three-story residences that average over 1,700 square feet and include separate dens that could potentially be converted into a bedroom. Interior features include 9-foot ceilings, eat-in kitchens with Energy Star rated Kenmore stainless-steel appliances, spacious pantries, granite or quartz countertops with undermounted sinks and premium Kohler plumbing fixtures, custom cabinets, in-suite full-size washer/dryers. Units are also Cat5 Ethernet wired and include top-of-the-line lighting fixtures.

Every residence has a private yard and large patio terrace. The community also features a sparkling resort-style pool and spa. Residents of The Newport can also enjoy the amenities at the North Tempe Multi-Generational Center, located directly across the street, for $25 for the year or a $1 per day. The ±30,000 square foot facility includes a fitness center, a business center/library, a gym with multiple basketball courts, community classrooms, preschool classrooms, a youth center, a teen center and a senior center.

Post: Considering Phoenix AZ - anyone familiar w/ area?

Ric KenworthyPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 32
  • Votes 11

@Sunanda Nair we have a house/casita combo off Almeria right next to Coronado Park and Banner University Hospital. It’s doing VERY well. Definitely an up and coming area. Did you get up and running there?

Post: 17 Unit Luxury Condo Bldg near ASU Tempe AZ

Ric KenworthyPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 32
  • Votes 11

@Dean Letfus. I'm not selling the property. I want to locate investors to purchase it. I want to partner with an investor or investors and list these units as ultra high end (luxe) short term rentals. Long term they generate $2500-3000/each. Short term these could do $4-6000/month average. Arizona is a VERY STR friendly and extremely lucrative market. We're already doing. 17 units self contained as one property is a gold mine!

Post: 17 Unit Luxury Condo Bldg near ASU Tempe AZ

Ric KenworthyPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 32
  • Votes 11

I keep hearing about Chinese investors and people all over the world looking for deals like this. So doesn't hurt to ask for advice on how to find them. This is an investors dream. $3000/month average rent per unit or a very lucrative Short Term Rental opportunity with the right management. Where do I find the money?

Post: arizona

Ric KenworthyPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 32
  • Votes 11

@Jim Chung did you make the investment in South Scottsdale? We have a small portfolio of investments that are all thriving as Short Term Rentals. Curious how yours is performing if you made the investment.