Selling Our Cashflowing Airbnb

[Laura Tokgozoglu]

We have our 5br 3 ba Historic home in Mansfield MO listed on the MLS, but I wish there were some way to target an Airbnb or "house hacking" audience. We had an onsite manager who lived in a part of the house and we rented out the rest. Someone could buy this house, live in it and manage the Airbnb and have Airbnb revenue pay the mortgages and utilities. And have money left over!

It has rented very well, we opened in May and have grossed $12,000.00 and have $2000.00 more booked for September so far... we are selling for $275,000.00. It would be a perfect place for a couple or  a small family to house hack and actually make money after the mortgage is paid! It is located 1 mile from the Laura Ingalls Wilder Museum which draws many to the area and it has a connection to LIW as she wrote some of her books there and was friends with the owners. She designed her home after it...the house came with many rare photos of LIW and her husband. 

We get bookings for all kinds or reasons.  There is very little out there for people to stay and not much at all for large groups. We can sell it furnished so it is basically ready to go. Any suggestions on how to market it better? Is there a dedicated site somewhere that focuses on selling Airbnbs? If there isnt ,there should be!

[Paul Turovsky]

Good Morning Laura,

You mentioned that you have the property listed on MLS. Are you working currently with an agent or did you list it yourself through a company that just helps you place on MLS? 

if you have a realtor, have they tried websites like Crexi.com or Loopnet.com? Many investors visit these two websites in order to find properties that are generating income. Even if you do not have a realtor, you are able to sign up for Crexi.com for free and list a listing for free. 


 Paul Turovsky
Emerald Realty International
Real Estate Agent 

[Laura Tokgozoglu]

Thank you Paul! We do have a realtor and we will pass on that tip!

[Robert N.]

My wife and I were just there (Mansfield, MO) in July and rented an Airbnb (a different one) to see Laura Ingalls house. :)  I actually did some looking (fantasying) about doing what you just mentioned. Long shot...but I am looking at your place on realtor.com now. :-) 

[Julia W.]

Not sure if it would make sense, but what about a targeted Facebook ad focusing on finding people who are looking for a new start/career change in life? Billing it as home ownership in addition to owner-operator of your own hospitality business?

[Laura Tokgozoglu]

If our situation were different we would keep it, its a nice cashflowing Airbnb. It is zoned Business and Commercial and it is very nice as is but has lots of potential for added value...the town is growing and I think it fills a huge need.

[Laura Tokgozoglu]

Julia, I love that idea!

[Robin Simon]

Agreed - find a good agent that has experience with selling investment properties (esp. STRS).  The facebook group AirBNB homes for sale is also very large and a good place for these

[Mason Hickman]

@Laura Tokgozoglu MLS is likely where the buyer for this type of property will come from. Use keywords that will identify it's viability to investors like STR, Airbnb, great investment, rental, offered turnkey, etc. Also add a note to the effect that "owner will share historical rental information to qualified buyers." I find the biggest hurdle buyers have is "what will I really make on this?" If you can answer that question with hard numbers, it goes a long way.

[Laura Tokgozoglu]

Thank you! Those are very good suggestions!

[Laura Tokgozoglu]

Robin , Thank you! I am going to check out that group!

[Don Konipol]

Quote from @Laura Tokgozoglu:

We have our 5br 3 ba Historic home in Mansfield MO listed on the MLS, but I wish there were some way to target an Airbnb or "house hacking" audience. We had an onsite manager who lived in a part of the house and we rented out the rest. Someone could buy this house, live in it and manage the Airbnb and have Airbnb revenue pay the mortgages and utilities. And have money left over!

It has rented very well, we opened in May and have grossed $12,000.00 and have $2000.00 more booked for September so far... we are selling for $275,000.00. It would be a perfect place for a couple or  a small family to house hack and actually make money after the mortgage is paid! It is located 1 mile from the Laura Ingalls Wilder Museum which draws many to the area and it has a connection to LIW as she wrote some of her books there and was friends with the owners. She designed her home after it...the house came with many rare photos of LIW and her husband. 

We get bookings for all kinds or reasons.  There is very little out there for people to stay and not much at all for large groups. We can sell it furnished so it is basically ready to go. Any suggestions on how to market it better? Is there a dedicated site somewhere that focuses on selling Airbnbs? If there isnt ,there should be!

If the property is paying for the manager, expenses, taxes, repair and maintenance, and mortgage payments, and isn’t generating a significant net income after all that, then it’s “additional” value as an investment property over fair market value is limited.  Investors want to earn a cash on cash return of 20% minimum for the hassle of running a vacation rental.  We’re not talking about one month income, needs to be provable over the course of at least 12 - 24 months. 
Potential?  Every property seller claims if only it was run differently there would be so much more income.  Investors may buy when there’s potential room for growth, but won’t pay for something they’d have to create.
That being said, your property does have some great aspects to it.  Why are you worried about it selling on MLS? 

[Laura Tokgozoglu]

Hi Don,
The MLS is fine, I just wanted to see if there was a way to get more eyes on it. And I've appreciated the suggestions. I also wanted to try and reach out to an audience that might want to house hack...it seems to be well suited for that. It seems like for someone who wanted to buy a very nice fully furnished house that could pay the mortgage and utilities, and they could live there, it could be a good fit. Or it might just sell to some regular folks, either way is fine. We are also fine with just running it ourselves until that time comes, the Airbnb guests are paying down the mortgage every month.

[Laura Tokgozoglu]

Very happy to say the house is under contract! It is contigent on the sale of their house( which I'm told has lots of interest) however we are still taking offers!

[Darren Wade]

Quote from @Laura Tokgozoglu:

Very happy to say the house is under contract! It is contigent on the sale of their house( which I'm told has lots of interest) however we are still taking offers!

Awesome to hear! Congrats! Did the buyer come from the local MLS? Can you send me the listing or address so that I can take notes on what you and your agent did to attract the right buyer? Are you selling the house for a premium above market value because of Airbnb business or no? Thanks in advance!

[Kathleen McDowell]

Hi Laura. Im surprised at how many realtors here in PHX don't offer the ABNB stats with the property and/or a proforma. They make buyers agent's reach out and ask for all the info that would be critical for buyers. Tip is to ensure your MLS listing has key words in the search like, STR, AirBNB, investor, etc and include all the data that will help an investor make a decision readily available. Good luck!

[Laura Tokgozoglu]

So the house is contingent on the buyers selling their house..and they are selling theirs for 499,000.00 and lowering it $15,000 per week until it sells...it has lots of lnad I think 10 acres and is a big beautiful place...out side of Springfield Missouri so there is lots of growth out there, however with the shift in the economy who knows when that will happen?..soooo we are still taking offers and the price has gone down to $259,000.00 if anyone is interested...they did an inspection even though we don't know if it is going to happen...and the house is in good condition, no big problems so that is good to hear!