Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Short-Term & Vacation Rental Discussions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 3 years ago,

User Stats

5
Posts
1
Votes
Benjamin Barry
  • Norcross, GA
1
Votes |
5
Posts

Converting my property's garage into another Airbnb worth it?

Benjamin Barry
  • Norcross, GA
Posted

I have a rental property in the Southeast (not my residence) that I am using as an Airbnb.  It is worth about $80,000, so not very much.  It is in a lower middle class neighborhood and so far is doing okay.

I am thinking about what my next move would be and I would like advice.  I have the option of either:

1) Converting the existing detached garage of the $80K property into another, smaller airbnb.  It already has a separate room attached to the one car garage but there is no HVAC or water.  I would want to do this with a construction loan of some sort.

2) Just buying another property and saving the down payment for that.  Right now my Airbnb is not in a vacation market so I'm thinking about my next Airbnb being in such a market.

3) Any other ideas??

Thanks!

Loading replies...