Updated almost 2 years ago on . Most recent reply
First Airbnb Property
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $585,000
Cash invested: $73,000
Our first Airbnb Property, bought for $585,000 and has not appreciated much since we bought it. Furnished for around $15,000 and pulls in an average of $1,000 profit a month with super high earnings coming in February-April.
What made you interested in investing in this type of deal?
Wanted to get into STR's and have since started a STR management company.
How did you find this deal and how did you negotiate it?
Worked with an investor friendly agent in Phoenix who knew the market very well and was managing his own properties.
How did you finance this deal?
10% vacation loan
How did you add value to the deal?
Furnished and managed ourselves.
What was the outcome?
Very successful running Airbnb
Lessons learned? Challenges?
Taking care of a pool is hard!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
George Mevawala in the Phoenix market.