From Primary home to STR

[Elizabeth Pruett]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $293,000
Cash invested: $30,000

This property was purchased with a VA loan in 2018. We decided to use our primary home as an investment, and turn in into an Airbnb in September of 2021.

We invested 30K total for furnishing and fixing up of pool and bathrooms and have consistently been able to make $4,500 in profit during peak seasons (Sept to March). Waiting for summer months to finish to see where we land.

Lessons learned? Challenges?

- Don't underestimate the time you will spend to put together an Airbnb if you are doing this alone and with no team (cleaners, maintenance guy, handy men, and designer)
-It doesn't need to be perfect, just livable with some personal touches.
-Unless you want kiddos breaking your beds during every turn over, don't go cheap with the bed furniture for kids if you plan on having twin beds, etc.
-Let go of control, hire others to help (cleaners, etc)