Updated about 5 years ago on . Most recent reply
Our first real investment
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $582,000
Cash invested: $130,000
Bought as our "forever" home and pivoted to Airbnb.
What made you interested in investing in this type of deal?
Cash flow
How did you find this deal and how did you negotiate it?
Realtor
How did you finance this deal?
conventional financing
How did you add value to the deal?
Bought a fixer in a high property value area that is rapidly appreciating due to city progress and improvements. Did a complete remodel.
What was the outcome?
holding as a long term investment, consistent appreciation and $2500/month net cash flow from Airbnb
Lessons learned? Challenges?
Buying a "forever" home and putting too much money into it for the area. Over built for the current market. In the end it worked out because we are a unique and well designed Airbnb that is consistently at 85% occupancy.