Turning Long Term Rental to Short Term Rental

[Elizabeth Pruett]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $135,000
Cash invested: $75,000

Originally purchased property for long term renters. We overpaid (uff) or so I originally thought, but after seeing what my first Airbnb was doing we figured we could invest money into remodeling this property (which badly needed it anyway), and rent it out to nurses and other working professionals that travel to Yuma on assignment. This property originally took a loss between July 2021 and February 2022, due to an inherited tenant and remodel time frame. At this rate, we are hoping to keep a consistent cashflow of $2000 a month (so far we have been booked through March to July 2022, and hope to get more bookings soon).