All Forum Posts by: Thomas C.

@Glenna Wood good to know, thank you!  I will definitely look into adding a kitchenette, whether I put in a bathroom or not.  I think it just makes sense and would definitely add a level of convenience to the lower level for sure.  Going to seriously look into the idea of a murphy bed as well!

@Tim DeFor thanks for the reply!  I am not currently wanting to rent by the room and I am thinking about keeping the home for a while so resale is not a huge concern at the present moment.  I may be able to add a small bathroom near the laundry room to make adding plumbing less of a hassle, but I think that will come later on down the road.  Either way, whether I add a bedroom downstairs or not, the home will sleep at least 10 people.  Got to do something with the big basement area!  May add a desk downstairs and a couple of chairs and make it a reading/work space too.  Lots of options to choose from for sure!  

@Cameron Johansson thank you! I am thinking about going with the game room and bunk beds downstairs. It will be cost effective and at least the space will still be wide open in case I decide to remove the bunk beds and make it into a movie room, second living room, or a separate studio style STR somewhere down the line. Seems like the smartest choice for now. Appreciate your input!

@Glenna Wood I appreciate your input! It’s on sewer which is great for adding a bedroom because I wouldn’t have to mess with the septic tank. Yard has plenty of room for a pool but I’m not sure if the cost of insurance and liability that comes along with it would be worth it. Do you have any experience or advice for airbnb properties with pools re: insurance/liability/policies in place? Thanks!!

@Jonathan Avellaneda thank you for the input! Didn’t think about the idea of separating or using as combined. Would be a great idea to increase cash flow!

@Bruce Woodruff very good point about the 2 separate STRs! The only reason I’d shy away from that is that I don’t think there is enough room for a kitchen or even a kitchenette. May be an option for a small addition or maybe expansion of the laundry room to fit cabinets and counters. Thanks for the idea!

@John Underwood thought about a Murphy bed! Not sure how easy they are to break though. Pull out couches are definitely an option!

@Billy-Dee Greenwood thanks for the input! I think that sounds like a great idea. Never thought about making that switch after renting it out for a while.

Hey everyone!

I am considering purchasing a property in Pensacola, FL that is a 3 bedroom/2 bath with about 2,000 square feet.  It's not exactly what you'd traditionally think of with a split level home, but all 3 bedrooms and both baths are upstairs, and the lower level is a garage, laundry room, and large family room/walk-out basement type situation.

I am intending to use the home as an Airbnb.  It's about a 25 to 30 minute drive to the beach, but conveniently located close to the airport and other points of interest.  There is a home right around the corner that is of similar size, renting from anywhere between $250 and $400 a night, depending on the season. 

So, my question is... since I would already be doing renovations, would it be a better idea to simply keep the walk-out basement as one large room, or budget for enclosing a portion of the basement to create a fourth bedroom?  I don't know how easy it would be to add a bathroom down there, but my guess would be that it would be too cost-prohibitive.  Either way the home would sleep ten.  If I kept the basement as one large room, I'd most likely make it a game room/bunk room combo with two sets of bunk beds and a sectional with a TV, maybe a ping pong table or something like that.  If I added an extra bedroom, I'd probably put a queen size bed in the bedroom, and a pull out couch in the family room area. 

I am leaning towards adding a bedroom, since that would also increase the resale value quite a bit, but I am worried that not having a bathroom on the lower level would be a deal breaker for some guests.  My goal is to make the home as family friendly as possible since many of the properties downtown are much smaller, and the larger beach properties are expensive in the summertime.  Just trying to figure out the most beneficial avenue to take

Thank you guys so much, and I look forward to hearing your input!

Hi everyone!  I would love to know if anyone has had experience with Rehab Financial Group (RFG) based in PA.  All insight and feedback is appreciated!  They seem to have good Google reviews, and they're mentioned in other credible sources (i.e. Forbes) so it sounds like they are legit but I'd love to get a second opinion.  Thanks!