School Bus Conversion (Olympia WA)

[Isaac Colavecchio]

Investment Info:

Mobile home buy & hold investment.

Purchase price: $3,400
Cash invested: $17,000

Converted a 1992 skoolie and rent it out on Airbnb. https://www.airbnb.com/rooms/43510208?guests=1&adults=1&s=67&unique_share_id=01918337-9433-4ba9-b5b5-4977f1a5d319

What made you interested in investing in this type of deal?

We thought we would use it to travel more but instead it has become a great AirBnb.

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

We found the bus on Craigslist and offered him $3,400 cash and then drove it home!

How did you finance this deal?

Cash

How did you add value to the deal?

We gutted the bus and turned it into a tiny house.

What was the outcome?

We make around $25,000-$30,000 per year profit from a $20,000 investment.

Lessons learned? Challenges?

A lot of blood sweat and tears went into the bus. It took about 6 months to finish the project start to finish.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No.