$180k purchase price
Two 1 bed 1 baths
Total rent $1,475
One or both sides have Airbnb potential once tenant(s) move out. $100-$150/night given the season.
Do I go for it? What do you think of this deal?
@Dylan Kosinski I think you’re paying too much for that kind of rent
I agree with @Caleb Heimsoth, you're paying too much for that kind of rent. Even if you could raise the rents I don't think it makes sense. Maybe I'm too conservative but I always apply the 50% rule first for expenses, and if it doesn't at least make decent money at that point, I move on. In this case, you'd be looking at $737.50/month expenses and after your 25-year am mortgage payment of around $800/month, you're making nothing, in fact losing ~$60/month at current rents. The Airbnb potential is nice but it's just potential. Ideally you want to get something that already works very well as-is, if you're aiming to somehow incorporate airbnb down the road, and you can then upgrade even more from there. There's always another deal and this one is too far off to make it work, I would advise against it.