Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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 6 years ago on . Most recent reply

User Stats

200
Posts
126
Votes
Jake Cohen
Pro Member
  • Rental Property Investor
  • Denver, CO
126
Votes |
200
Posts

New Multifamily AirBNB Renovation Complete!

Jake Cohen
Pro Member
  • Rental Property Investor
  • Denver, CO
Posted

The details:

Total of 7 beds, 4 baths divided into 3 units in Steamboat Springs, CO

Purchased off MLS for $695,000, 25% down.

Approximate remodel & Setup Cost: $200,000

Total Cost of project upfront: $373,750

Traditional Mortgage acquired. Current payment: $3450/ mo. Currently working on a refinance to pull the money back out for remodel.

Launched on Airbnb in late November 2018. 

Revenue for 12/18-3/19: Approx. $80,000

Total Profit after all costs 12/18-3/19: Approx. $30,000 

Ended up having some unexpected repairs needed after starting up. Should have been closer to $40,000 but unexpected water heater replacement in 2 units and a flooding issue cost approximately $9,000.

Goal for 2019 Revenue of: $150,000

Profit: $60,000

Superhost status Maintained.

I'm happy to answer any questions about the renovation and what we are doing now! Would love to help others get up and running. Airbnb is a great business!!!

  • Jake Cohen
  • Loading replies...