Short Term Rental/House Hack

[Nick Powell]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $123,000
Cash invested: $11,200

This was a house hack that we bought and moved into for 6 months. During that time we would list it on AIRBNB during the weekends while my fiancé and I would be out of town. We ended up bringing in such strong results that we decided to move out and make it a full time short term rental which now is bringing in over $300 of cash flow every month.

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

We found this deal off market and negotiated based on the brokers opinion we received before going into contract.

How did you finance this deal?

We financed this deal on a commercial loan through a portfolio lender which meant a high interest rate. However, we have since refinanced on a 30 year conventional loan with 20% down thanks to some built in equity by buying at a great price.