The VA Loan Home turned into a STR via AirBnB
Investment Info:
Single-family residence buy & hold investment in Bossier City.
Purchase price: $157,000
Cash invested: $8,000
I bought this house using the VA loan, required minimal follow on investment (just added a back patio and new A/C) currently AirBnBing it with an average gross of $2000/mo.
What made you interested in investing in this type of deal?
First Property
How did you find this deal and how did you negotiate it?
318 Real Estate (Shane Cheatham)
How did you finance this deal?
VA Loan
How did you add value to the deal?
Back Patio, Front Yard Landscaping
What was the outcome?
Currently listed on AirBnB and HomeAway/VRBO and produces an average of $250/mo in cashflow.
Lessons learned? Challenges?
Learned how to build up an AirBnB reputation, advantages and disadvantages of STR over LTR, challenges relate to property management of a STR are currently non-existent in the area and will transition to a LTR once I leave the area.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Shane Cheatham with 318 Real Estate, knows the Bossier/Shreveport area extremely well and is motivated to provide you with the right house for you!