Updated about 1 year ago on . Most recent reply
Buy and hold airbnb
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $925,000
Cash invested: $75,000
Sale price: $1,190,000
Bought and styled and managed a luxury Airbnb in Scottsdale.
What made you interested in investing in this type of deal?
The income potential for STR
How did you find this deal and how did you negotiate it?
Found on Zillow by researching the area and income trends for STRs
How did you finance this deal?
Conventional financing
How did you add value to the deal?
Upgraded the backyard and re-styled and provided high end furnished to the home
What was the outcome?
Had excellent success self-managing as an Airbnb in the winter months and switching to a mid-term rental the summer months.
Lessons learned? Challenges?
I learned a lot about managing an STR, specifically with revenue management and guest messaging. I also learned about what to look for and how to use data to style a home for the purposes of a STR. Challenges we faced were dealing with the slow summer months so we decided to pivot to mid term rentals and did very well!