9 Bed 4 Bath House Rented by the Room!

[Rand Knutson]

Investment Info:

Single-family residence buy & hold investment in Seattle.

Purchase price: $920,000
Cash invested: $80,000

Contributors:
Vishrut Reddi, Ryan Lehman, Sherief Elbassuoni

I partnered up with two other investors to buy this 9bd/4ba single family home. We are renting this by the room to traveling nurses and professionals on a monthly basis.

We were heavily inspired by our incredible agent, Sherief Elbassuoni, who has a similar model and system for managing room rentals. We have set up a very efficient automation system with airbnb to make the guests' room rental experiences frictionless.

How did you find this deal and how did you negotiate it?

Our agent, Sherief, brought this deal to us, and they were asking 949k. He did a fantastic job negotiating it down to 920k.

How did you finance this deal?

We used 20% down commercial financing.

How did you add value to the deal?

We furnished every room with TVs, mini-fridges, a workspace, and a bed. This makes it super desirable for tenants.

What was the outcome?

We currently have fully booked every room and will be gradually increasing the rates.