Updated 12 months ago on . Most recent reply
Skyline Airbnb / Adult Care Investment Property
Investment Info:
Single-family residence buy & hold investment in Alpine.
Purchase price: $381,600
Cash invested: $531,600
We purchased this adult care home for $381,600 on the market. After investing $150,000 into a full remodel we decided to keep it as an Airbnb with 5 studio master suites with their own bathroom and kitchenette. This year we decided to sell and move money elsewhere, we are currently under contract for around our asking price of $900,000.
What made you interested in investing in this type of deal?
The opportunity immediately caught our attention. The location, price, and condition created the ideal situation for our team to make an educated offer.
How did you find this deal and how did you negotiate it?
We found this deal on the market. We have alerts set up to help us navigate and filter through the new homes that come on the market. We sent over our cost analysis and the reasoning for our offer and because the numbers made sense, the seller agreed, and we got a great deal overall.
How did you finance this deal?
This property was financed by private money.
How did you add value to the deal?
We did a full remodel on the property, including but not limited to HVAC replacement, electrical panel upgrade and rewiring, and cosmetics.
What was the outcome?
The outcome was a successful remodel and listing on the open market with a full offer within only 2 months!
- Marcus Adam