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The Beauty of Short Term Renting

Have you considered renting your home short-term but don’t know if it’s a good idea or not? Curious to know how much you could make doing it? We’ve found this awesome tool to help you do just that. Scroll down for my testimony of renting my own home short term! 

Click here to learn how much you can earn and create a free account using my Homebot!

HomeBot

Many of you have asked my experience with renting through sites like AirBnB, VRBO and Homeaway – so here it is! I originally bought my Little Brick House (LBH) in October of 2015. It’s a small 2 bed/2bath that needed a lot of TLC. I used a rehab loan to renovate the kitchen and flooring, bring some things up to code and move the washer and dryer out of the kitchen. The next year I used some savings to renovate the bathrooms and update few other minor details. I lived in the LBH for over a year but then wanted to try renting through AirBnB to the Spring Training crowd since the house is a mile from the SF Giants Stadium. My plan was to move out for six weeks to rent through the season, just to try it and see if I got any bites.

And I got bites. So many bites. I got inquiry after inquiry and reservation and reservation. They kept coming for later into the year, all for different reasons. Phoenix Open visitors, Spring Training go-ers, traveling nurses, people doing renovations in their own homes, people visiting others at Mayo Clinic or Phoenix Childrens Hospital, and many, many other life happenings that cause people to need a short term rental.

I never have moved back into the Little Brick House but the beauty of still having a short term rental that you can “turn on and off” is that when I do need it, it’s there for me. For example, we’ll need to move in this summer while waiting for our new renovation to be complete but have sold our other home. And this fall while we have friends and family in town for our wedding, they’ll have a place to stay!

If you have the ability to rent out a home, or a space in your home – but don’t want to commit to a long term rental… click the link above. You would be surprised how much money you’re able to make from doing so. In many cases (mine included), you can make MORE MONEY short term renting rather than renting with one long term renter.

YES. It’s true.

If you’re interested in buying your own version of the Little Brick House in Scottsdale or anywhere in the East Valley – email me at RealEstateInRealLife@gmail.com and we would love to help you through the investment buying process!!

Until then, just love life.

 

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A Real Life Reno

If you haven’t heard, Brian and I are attempting to renovate a future dream home that needs a major transformation. It’s fitting to use “attempting” because at this stage, we feel like so much is out of our control. We’re very on-top-of-it kind of people, and even so,  it’s felt like we aren’t getting anywhere at times. We’re constantly waiting on others to get our project moving or have to bug people five or more times before they’ll respond, and that lack of communication drives us (mostly me) nuts.

If you’re new to our story, here’s the condensed version:

We purchased a home in Scottsdale because of its lot size and location. The curb appeal of the house did not speak to us but the potential we saw couldn’t be ignored. We quickly tried to get somewhat of an estimate for a renovation bid before putting in an offer, but most companies told us there was no way to give us a bid until we had the architectural plans. But c’mon, on TV they have contractors able to give quotes right on the spot! We had to use our best judgment with only one quote and moved forward with the purchase and closed on May 18, 2018.

We then signed a contract with a draftsman on May 21 to get right to work on our design and plans. We already had a great start, we thought, because we basically new what we wanted to do to the house. It should only take two-three weeks before we would submit plans to the city, right? Wrong. We didn’t submit our plans to the city until July 23.

The City of Scottsdale then reviewed our submittal in good time as we had notes back on August 10 – three days sooner than what was estimated! But unfortunately what they came back with required an additional surveyor to come to the house and another engineer to review those plans. That should only take two weeks, right? Wrong. We still haven’t gotten that far, or at least we don’t know if we have. Every day this past week they told us it would be ready… any day now.

I also fast forwarded through months worth of tackling the bidding process, price negotiation, messy disagreements with contractors, design decisions, and oh, the kicker of it all: PAYING FOR A HOUSE WE AREN’T LIVING IN. Then there was also that time a new neighbor of ours called a complaint on us because we let the front yard grass grow too much, the pool was green, and a gate broke. All costing us money, and none of it getting us closer to our dream house.

Anyway, these are all first world problems of course and we are so fortunate to be in the position to build a home that will hold years’ worth of memories. We just wanted to share our story because we know there are thousands of people likely going through a similar journey, yet all we see is the HGTV version of renovations done in six weeks and under one hundred thousand dollars. That isn’t real life. Our journey, however, is real and we hope you’ll enjoy following along the realistic version of a major renovation.

Until then, just love life.

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