6-unit in DTown Fort Lauderdale - renovated & turned Airbnb!

1 Reply

Investment Info:

Large multi-family (5+ units) buy & hold investment in Fort Lauderdale.

Purchase price: $582,500
Cash invested: $125,000

I purchased a 6 unit building in my neighborhood and spent 5 months on the renovations. I then set each unit up as an Airbnb, and now it’s a successful full-time short term rental. It was A LOT of work, and I would be willing to discuss details with anyone interested :) There are things we did right, plenty we made mistakes on, but it sure was a great learning experience!

What made you interested in investing in this type of deal?

After starting my first Airbnb and realizing how successful it was, I was ready for much more. We found this 6-unit building and went under contract the day it came on the market.

How did you find this deal and how did you negotiate it?

I am a Realtor, so I was able to locate this home the very first day it came on the market. We offered full asking price to secure it, and went under contract that same day.

How did you finance this deal?

Commercial Loan 25% down.

How did you add value to the deal?

Renovated the entire building - SO much work went into this one!

What was the outcome?

Running now as a very successful Airbnb.

Lessons learned? Challenges?

Many lessons learned haha

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am a Realtor :)

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