Airbnb Buildout at Land Between The Lakes

[Rob Bergeron]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $80,000
Cash invested: $7,700

Contributors:
Joe Worth

This will be a five bedroom with three full bath airbnb. This home already had $148,000 invested into the property (original owner fell ill and was not able to complete the project. This will sleep 20 guests and should be a six figure gross airbnb. Should be all in at $300,000 with a $500,000 ARV.

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

Fun project, cashflow, and a great asset.

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

Always looking online for deals.

How did you finance this deal?

Hard money with FlippinLoans.

How did you add value to the deal?

Will be able to refinance all of our money out.

What was the outcome?

TBD, but should be a great home!

Lessons learned? Challenges?

It will be challenging to build out this property 3.5 hours away and create the airbnb infrastructure.

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

I represented myself as agent. Joe Worth partnered with me. Chris McCarty financed. Border & Borders closed the property.