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Updated over 2 years ago, 04/11/2022
House Hack Switched to Full Airbnb in Oklahoma City
Investment Info:
Single-family residence buy & hold investment in Oklahoma City.
Purchase price: $242,000
Cash invested: $13,000
Purchased the house to live in it initially and try Airbnb. The house had an add on master suite with a private entrance. We blocked it off from the rest of our house and rented it as a single room with no kitchen access. We were very impressed with income. After 1 year we moved to a duplex (to househack again). Currently operates as a single Aribnb
What made you interested in investing in this type of deal?
Beautiful home, nice neighborhood, with potential for house hack
How did you find this deal and how did you negotiate it?
MLS
How did you finance this deal?
Conventional loan with 5% down. Seller covered all closing cost
What was the outcome?
Worked well as a house hack, now as a 4 Bedroom airbnb it is performing very strong, although we are in the early stages.
Lessons learned? Challenges?
2 major lessons
1. When it was a single room airbnb guest expectations were much lower. When we turned it into a full house we learned quickly we needed to step up the cleanliness, instructions, pictures, etc.
2. Would highly. recommend a garage apartment, MIL suite, etc. as a soft intro to Airbnb. Revenue was strong and minimal headache.