Updated almost 4 years ago on . Most recent reply
Primary residence added Airbnb apartment
Investment Info:
Single-family residence buy & hold investment in Ontario.
Purchase price: $286,000
Cash invested: $100,000
Added a 1 bedroom, 1 bath fully functional apartment. On Airbnb, during the high season, cash flow doubles.
This home is in Muskoka, Ontario.
What made you interested in investing in this type of deal?
Initially, it was only my primary residence, I started to rent a room for extra cash flow and did that for years. I put $30,000 into building a 1 bedroom, 1 bath apartment and have made the investment back in 1 year.
How did you finance this deal?
Line of Credit
What was the outcome?
I put $30,000 into building a 1 bedroom, 1 bath apartment with a full kitchen & laundry and have made the investment back in 1 year.