Our First Airbnb

[Michael Martinez]

Investment Info:

Single-family residence other investment.

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

Residence is an 8 bedroom home that we've made into a short-term/mid-term rental. We rent out each room individually. Home was in need of some updating when we purchased it: knob&tube, paint, newer furniture.

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

It was an up and running airbnb, but it was needing some updating and the owner was looking for cash to get into more expensive airbnbs.

How did you finance this deal?

30 year loan

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

Jonna Janzen with the Andy Blake Group