"Tiny Tipsy Cabin" - 1 bed AirBnb in West Seattle

[Michael Haas]

Investment Info:

Single-family residence buy & hold investment in Seattle.

Purchase price: $330,000
Cash invested: $9,000

Cash purchase - 400 sq. ft. 1941 shipbuilder cabin on the West Seattle Waterfront. New electrical service and wiring, new kitchenette, floors sanded, wood burning stove-pipe replaced, and new deck installed. It also has some structural issues that we're leaving be for now.

This renovation was an easy one by our standards, but still would have cost more than $9k in Seattle had we not done a lot of the work ourselves. The Tiny Tipsy Cabin is currently rented on Airbnb with hundreds of reviews and a 4.8 star rating, and net income is about $3,000 a month before accounting for debt service.

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

I'm an Eagle Scout, and the Henry David Thoreau in me just wants to live in the forest and chop wood all day. Plus we wanted to get into STR's (Airbnb, VRBO, etc)