Tiny/Small Home in Houston

Tiny/Small Home in Houston

Rental Property Investor · Houston TX (houston, tx) · Member since 2021 · 16 posts · 6 votes

Investment Info:

Other other investment in Houston.

Purchase price: $265,000
Cash invested: $5,000

Tiny/Small Home that I'm currently living in. Waiting to purchase another home on acreage to put this home on the Airbnb market and start another real estate endeavor.

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

Wanted to take advantage of the small/tiny home niche in Houston and provide local and traveling people (nurses etc) a place to recover and relax for a day or two. Really stand out and change the local Airbnb game.

How did you find this deal and how did you negotiate it?

Through research, I came into contact with the builder as I was trying to purchase another similar home.

How did you finance this deal?

Veterans United

How did you add value to the deal?

Adding my own flare with interior design and making it more Instagramable.

What was the outcome?

Unsure yet, waiting to post house on Airbnb market.

Lessons learned? Challenges?

INSPECT THE HOUSE! Especially being a new home owner and never built a home I didn't know what to look for. But now I know what to do, always get the warranty. ALWAYS.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No

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  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    5y

    Congrats on this investment @Diego Omar Jaime !

  • Rental Property Investor · Houston TX (houston, tx) · Member since 2021 · 16 posts · 6 votes
    5y

    @Dmitriy Fomichenko thank you brother! I cant wait to post this on the market!

  • Real Estate Agent · Surf City, NC · Member since 2017 · 648 posts · 597 votes
    5y

    Congrats @Diego Omar Jaime!! Sounds like an awesome plan/vision. Do you have any pictures you can share with us? 

    What do you expect it to generate as a short term rental after you move out?

  • Rental Property Investor · Houston TX (houston, tx) · Member since 2021 · 16 posts · 6 votes
    5y

    Thank you @Sean McDonnell I can! I'm still new to the site so I'm not sure how to best upload but I'm sure I can figure it out. 

    According to my market research, I should be looking at being around 90-100% booked per month at about $120-$150 plus a night starting off. So on the low side per month around 3k (plus or minus.)

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