Opportunity to purchase AirBnb but need financing help
I have been presented an opportunity to purchase an existing AirBnb fully furnished for $350K which is about $30K under what it is valued. I am very interested in the area as it is a location I have wanted for about a year. However, I am trying to look into some creative financing. Does anyone have any good advice or know people that would offer good advise? I have tried reaching out to some of the bigger names on instagram but, I know I am one in many that send messages to each of them. I am really just trying to figure out a way to get into this property as I know from previous financial statements, it should cash flow about $35-40K net. Thanks for the help.
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I would run your numbers again to be sure you are actually profitable. $34K net for a $350K property is on the lower side for an STR and sounds borderline break even once you figure that will have to pay for water, power, cable, lawn care etc. Unless you see this as a strong appreciation market I would look elsewhere.