Successful House Hack - STR's for the win

[Robert Kurka]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $480,000
Cash invested: $7,500

"I've successfully vacated my triplex residence and transformed my former 2-bedroom, 1-bath unit into a lucrative Airbnb space. I've committed $7,500 towards renovating and furnishing this unit. Now, with two short-term rentals, my property generates a substantial income of $5,300 from short-term rentals, while the remaining unit yields an additional $1,500 in monthly income. In total, my property brings in a monthly revenue of $7,800, with a manageable mortgage of $2,700.

In the future, I plan to transition my long-term tenants to short-term rentals for all three units, potentially increasing my total monthly revenue to an impressive $9,000.

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

STR and MTR methods make me the most excited In this market where interest rates are high. These strategies allow you to still buy houses in the current market and still create positive cash flow.

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

MLS - found this deal on the MLS and in a multiple-offer situation I was able to lock it down

How did you finance this deal?

FHA - 3.5 % down

How did you add value to the deal?

Converted Garage into 3rd unit and then did 2 STR,s at the property

What was the outcome?

a single property with only 3 doors that has the potential for $9000 a month in total revenue when all 3 units are STR's

Lessons learned? Challenges?

Just do it, STR's will really surprise you