Future 2 month vacancy. Considering AirBnB.

[Jeremy Swanson]

Hey BP community!

After a few delays and some headache, I will be closing on my first deal today. Very very excited. It's a 4-plex in a slightly subpar area right outside a military base in Alamogordo NM. Rents are all on the low end ranging from $500-$575.

During negotiations I learned that I could legally ask the buyer here in NM to cover my personal lease termination fee of $2200. This allowed me to move directly out of the rental I was in and into my 1st house-hack once I closed and there was a vacancy. Financing with a VA loan so I will need to move into the property ASAP. Unfortunately closing costs were way underestimated and the $2200 that I asked for will need to go towards other things. I should have designated in writing that the $2200 needed be a credit or stated that it was only to be used for my lease termination fee. Lesson learned.

A week before my closing date, my realtor tells me that one of my tenants will be moving out in a month. Bad new obviously, but it got me thinking. 

Once the tenant moves out, I will have 2 months of vacancy in that unit before my personal lease is up and can move into it myself. Do I have enough time to set up that unit for AirBnB and make enough money to make up for the 2 months of vacancy that I will have? How have yall done with lower end AirBNB properties?

As always, I appreciate your input BP!

[Chace Fraser]

Hi @Jeremy Swanson congrats on closing the deal! If you're willing to move all your furniture into the unit after it's clean enough to AirBnB I'd say give it a shot! Just make sure the unit is clean and fully furnished. Good luck and let us know what you decide to do!