By Angela Gonzales | Phoenix Business Journal
Parsons Villas, a Scottsdale-based vacation rental company focusing on luxury homes in Scottsdale and Paradise Valley, closed on three new homes for $9 million, with another $2 million under contract.
Plans call for investing between $500,000 and $2 million to renovate each home, with the goal of having them ready by the end of the year, said Sean Parsons, founder and president of Parsons Villas.
“Working with the best contractors and designers in the Valley, I plan to up the level in the vacation home industry,” Parsons said. “Not only will these homes be timeless for the next 10-plus years, but revenue and overall value of the homes will be improved significantly. My plan is to acquire quickly, collect the peak-season income, and renovate over the summer months.”
He recently created a $30 million opportunistic real estate fund — called Parsons Real Estate Fund — dedicated to purchasing, furnishing and renting luxury short-term rental properties in the Scottsdale and Paradise Valley markets.
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