Airbnb - Kill Devil Hills, NC

[Susan S Morris]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $325,000
Cash invested: $25,000

3 bed, 2 bath beach box. Approximately 1000 sqft

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

We spend a lot of time at the beach and always wanted a beach house, but wanted someone else to pay the mortgage!

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

It was an on market listing that I negotiated with the listing agent.

How did you finance this deal?

Conventional financing

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

Jeff Scott, Scott Realty Team

[Susan S Morris]

Hey Brandon! Nice to meet you. I am the Broker/Owner of Open Gate Realty Group in Midlothian.

I have had just the opposite outcome. Possibly it's the type of houses that those folks bought. My investments are beach boxes, no more than 1200 sqft., no pool, no hot tubs, all located between the byways. The first one I bought in May of 2017 is completely paid off all by Airbnb. By managing them myself through Airbnb, I don't have the 17-23% fees that beach management companies charge.

Hope this helps!