The Cozy Casita

[Riley Louder]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $515,000
Cash invested: $30,000

Utilized a HELOC on our once primary residence turned LTR, to purchase a new primary residence. This Primary residence is near Zion National Park. We have a connected casita that we house-hack as an AirBnb. We have about a 90% occupancy rate and our currently super hosts. Having an LTR and having the house hack STR has given us the opportunity to either have a very low housing expense or none at all.

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

Knowing how much equity we had in our previous Primary residence and what we could cash flow from renting it out and then house hacking would Limit our housing expenses. I’ve been in operations and guest services in my W-2 job that I was confident we could figure out how to run a successful Airbnb.

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

On market deal with a real estate agent.

How did you finance this deal?

HELOC on our old primary residence, now turned LTR.