Today we’d like to introduce you to Kate Campos.
Hi Kate, thanks for sharing your story with us. To start, maybe you can tell our readers some of your backstories.
It all started on TikTok. At the start of the pandemic in April 2020, like many other people, TikTok had me in a chokehold. During one of the many hours that I was scrolling on the app, I came across several creators whose content was about real estate and creating passive income. I have always set as a goal that I want to retire young but I didn’t know how I was going to achieve that so this opened my eyes. From TikTok, I spiraled into YouTube videos and podcasts in attempt to learn everything I could. I started practicing what I was self-teaching by analyzing real properties for sale in my area and little by little I learned how to spot a great deal. I was so passionate about everything I was learning that one day I shared it with my parents and my dad told me, “Let’s go look at houses”. One thing led to another which led me to finding my first home. In the middle of this crazy housing market, I found a house that had been on the market for two months, had several price reductions and was in a fantastic area. However, it needed a complete overhaul whether I were to resell it or keep it. Thankfully the hard money lender I was working with was willing to finance half of the renovation but I knew even then the house needed more work than what the rehab loan offered. I knew whatever I put into the house would be worth it but I had jumped into this as a 23-year-old with a great plan but no actual savings to execute it; this is when my parents and my credit cards came through to help me finance the other half. My house was remolded at every inch and five months later the renovation was completed. A month after that it was live on vacation rental platforms such as Airbnb & vrbo. Three months after that I refinanced and paid off my hard money lender, my credit cards, and my parents. At the time of writing, it has been a total of 9 months since I bought my house and turned it into a cash-flowing Airbnb.
I’m sure you wouldn’t say it’s been obstacle-free, but so far would you say the journey has been a fairly smooth road?
It has definitely NOT been a smooth road. What TikTok and these influencers failed to say in their content was that at literally every single point in the process, there is going to be obstacles. Buying & Renovating: The buying process was the easiest and I had the greatest agent helping me along the way but the renovation definitely made up for the headaches that buying didn’t give me. Everything from asbestos to the rising prices of lumber, something always came up. I also entered a male-dominated industry which most of the time felt extremely intimidating being a young Mexican-American woman with no previous experience in flipping a house from top to bottom.
Being a Host: I absolutely love being a short-term rental host and most guests are amazing but obstacles include those few and far in between guests that are difficult and have ended up costing me more due to damages and cancellations. This is rare but it’s part of the ride and majority of guests are great and easy to work with!
Refinancing: This was another headache. Everyone knows how difficult it is to get approved with a bank, and it’s especially a challenge when self-employed and this was my case. There was a point where I thought I wouldn’t be able to refinance and I would have to sell what I had worked so hard to put together.
As you know, we’re big fans of Lylo Properties. For our readers who might not be as familiar what can you tell them about the brand?
Lylo Properties specializes in creating and hosting vacation/short-term rental homes. Currently, Lylo Properties has one property available in the city of Scottsdale that hosts up to 8 people and it is known as Casa Scottsdale. What sets my short-term rental apart is that I personally manage every single element of my guest’s experience. Communication is always directly with me and not a third-party property manager. Thanks to my direct involvement, I am able to quickly go above and beyond for each guest in offering a personable experience every time.
Lylo Properties is also proud to be women and Latina-owned and operated.
We’d love to hear about any fond memories you have from when you were growing up?
Anytime I was eating hot Cheetos
- Low Season $280/night
- High Season $700+/night
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