My First AIrbnb purchase in 2017

[Shane Dolinski]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $182,000
Cash invested: $25,000

Bought as my first Airbnb. Furnished, got my LLC, Short term rental insurance (IMPORTANT TO DO!), local Business license, professional photos, listed it on Airbnb/VRBO, and had it cash flowing from the start...Learned alot.

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

I love using Airbnb's and as a long term investor, I decided to throw my hat in the ring! Glad I did. I am now the Airbnb Facebook Community Leader and we host meet ups every 6 weeks to STR owners.

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

I wanted something with low maintenance and priced inexpensively. Looked on the MLS and found this one.

How did you finance this deal?

REC with a 5 year call. I refinance it last year at 2.75%

How did you add value to the deal?

I manage this property myself.

What was the outcome?

Has been a great investment and continues to cash flow.

Lessons learned? Challenges?

Evaporative cooling is great in the desert Southwest, but people from anywhere else in the country do not understand that the A/C (Swamp cooler) and the furnace use the same venting system and only one can be utilized...this is uncomfortable in a month or two in the fall or spring as it is too hot or cold for portions of the day. I converted all my STRs to Refrigerated air.

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

I am a license Realtor in NM.