Welcome to Episode 20 of The Franco Dinh Show! This week, I'm excited to share all the updates on my kitchen remodel, dive into some Airbnb challenges I’ve been facing, and explain the concept of post-possession agreements in real estate. It's been a busy month, and I can't wait to share what's been going on!
Dry January Recap
First, let me start with my Dry January experience. I’ve been doing this for years now, and while it was tough at first (since I worked in the bar industry), it’s gotten easier each year. If you're considering doing a "Sober January," I definitely recommend giving it a try—whether it's for detox or just a reset for the new year!
Kitchen Remodel Update
On the home front, the kitchen remodel is coming along nicely! The cabinets are in, and I’ve got my microwave and stove back in action. It's been a bit chaotic, especially with a kitchen sink still missing, but I’m excited to see it all come together. It’s shaping up to be a beautiful space!
Airbnb Business Insights
Switching gears to my Airbnb property, I’m working on improving my profit margins. The reality of Airbnb can be tough, especially with cleaning fees, linen fees, and restocking costs. I'm switching cleaning services to help lower those costs and keep things efficient. The margins are tight, but with consistency, I know I’ll continue to improve the business.
Real Estate Market Update (Cromford Report)
As for the local market, we’re still seeing the market balance out a bit, with active listings increasing slightly and days on market rising. Interest rates are still relatively high, but new home sales are offering incentives to help buyers manage those rates. If you’re buying in areas like Queen Creek, Surprise, Buckeye, or San Tan Valley, builder incentives might be worth exploring.
Post-Possession Agreement
Finally, in today’s client story, I’m explaining post-possession agreements. In one of my current deals, the buyer is allowing the seller to stay in the property after closing while they transition to their new home. It’s important for buyers to know what they’re getting into with this arrangement, so I break down how it works, what to expect, and how to protect yourself.
I hope you find these updates helpful! Stay tuned for more real estate tips, home improvement advice, and business insights in future episodes.
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