All Forum Posts by: Trever C Trader

A calculation is only as good as the data that is entered. That said, if your numbers are accurate, I would consider purchasing this property. Especially if it is in an area with Airbnb demand. If you are new to real estate then I would house hack the property.  You could purchase that property for as little as $20k out of pocket. 

My only issue with this is your ARV. How did you arrive at $425,000? If this property can have $75k added value from $5k repairs then I would absolutely consider buying this duplex.

Good morning Shivan, I have just moved to Phoenix and an also looking for opportunities to network and expand my local knowledge. It has also been recommended that the AZREIA be attended for education and the PhoenixREIA for networking; I am planning to attend both. Let me know if you would like to go together. 

Thank you for that!

Thank you for the reply Ben (I would have tagged you but I don't know how). I am not planning to do STR in Denver, for my model I really only like having 30+ day stays. I am interested in learning if there are any resources, similar to Airdna, for MTR.

I find running numbers on deals to be guesswork and supposition when using STR income figures. Especially when trying to determine demand and vacancy.

I live in Denver and am better able to interpret results for this market but it is quite different running numbers in a market where I have no experience.

Thank you!

Hello,

When trying to run the numbers on deals, I am constantly (educated) guessing on the expected income and demand/occupancy from Airbnb 30+ day stays...

There are many sites (airdna, etc) and resources for analysis of STR but I am trying to focus on MTR and am curious what others are doing to analyze MTR - especially monthly demand/occupancy.

The reason why this question is important, in case anyone is doing neither and are wondering, a lot of markets (like Denver) do not allow Short Term Rentals of properties (with a few exceptions); the only alternative in this case is renting your property for 30+ days at a time. 

Additionally, does anyone have recommendations for analyzing income from furnished (vs unfurnished) traditional rentals?

Thank you!

-trever

Yes, I purchased my first two properties with primary residence mortgages and used a vacation home mortgage for the third. 

I am using rent by the room, with Airbnb, in Arvada. In Denver I just have a roommate and am trying to decide which rent strategy to employ after moving.  The vacation home is in Phoenix and I will be moving in to this condo, until I purchase my next property, and plan to Airbnb once I move on.

I am planning to use an FHA 3.5% down owner-occupied 4 plex, to purchase the next property - to accomplish this, I am moving to Phoenix. I'm told I will have to refinance my vacation home to an investment property (due to lender requirements and proximity).

That's the way to do it! Keep up the momentum. 

I purchased my third property last month, I'm almost at my 2 year anniversary of my first place. 

If your HOA doesn't preclude it, you may wish to look at AIRBNB with STR or 30+ day stays (I prefer the latter).