Developer · Missoula MT · Member since 2016 · 232 posts · 84 votes
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $327,000 Cash invested: $33,000
Bought as our home, then immediately built a separate entrance to the basement and have been running as an Airbnb ever since. The Airbnb brings in around $3,500 if half the mortgage is included as an expense, $13,500 if that's taken out. Either way, it helps pay most of the mortgage.
What made you interested in investing in this type of deal?
The real reason I bought this house is that it sits on a 12,000+ square foot lot. I've just submitted my permit to the city to build a duplex in the backyard, and am planning on breaking ground in September, and be done by December. One side will be two bedroom, the other side one bedroom. I plan on running them as Airbnbs. Will likely move out soon after the duplex is completed, to the U district.
Bought as our home, then immediately built a separate entrance to the basement and have been running as an Airbnb ever since. The Airbnb brings in around $3,500 if half the mortgage is included as an expense, $13,500 if that's taken out. Either way, it helps pay most of the mortgage.
What made you interested in investing in this type of deal?
The real reason I bought this house is that it sits on a 12,000+ square foot lot. I've just submitted my permit to the city to build a duplex in the backyard, and am planning on breaking ground in September, and be done by December. One side will be two bedroom, the other side one bedroom. I plan on running them as Airbnbs. Will likely move out soon after the duplex is completed, to the U district.