Updated over 6 years ago on . Most recent reply
AirBnB in West Seattle suburbia!
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $575,000
Cash invested: $15,000
House hacked our single-family residence by leasing our 650sqft finished basement on AirBnb. Cash flow is consistent year-around.
What made you interested in investing in this type of deal?
The walk-out basement and location to our work.
How did you find this deal and how did you negotiate it?
Traditional search for a single-family home using a realtor.
How did you finance this deal?
Traditional 30yr mortgage.
How did you add value to the deal?
High-end furniture, custom construction, and themed interior decoration.
What was the outcome?
Consistent cash-flow that covers +80% of mortgage.
Lessons learned? Challenges?
Finishing the lower unit took longer than expected, and more cost than we thought. First time rookies!
