We renovated this property from the ground up and have listed it on Airbnb as a short-term rental since December 2022. Link to the property can be found at: https://www.airbnb.com/namastegetaway. It had exceeded even our most optimistic projections! Looking to repeat the success of this property, scale up, bring on investment partners, and do many more! Also looking to help others do the same on the Space Coast of Florida.

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

After learning about the untapped potential for short term rentals in the greater Melbourne area of Florida, I couldn't wait to test the market and see first-hand the occupancy and profitability of a home in this area. Needless to say, it exceeded all expectations.

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

The property was owned by my father-in-Law. We are currently renting the property from him, and managing the Airbnb listing, as an arbitrage situation.

How did you finance this deal?

Cash used for the initial investment of $15,000 for furnishing. Owner provided financing for the renovation costs.

How did you add value to the deal?

We turned a long-term rental with income of $1500 a month into a short-term rental grossing $6000-$7000 a month.

What was the outcome?

The property is consistently generating $2000-$3000 in gross revenue after ALL expenses. The Occupancy rate is above 80% and we are priced in the 75th percentile for our market.

Lessons learned? Challenges?

Automation is everything in the short-term rental game. I can confidently say that we have automated 90% of the process; from communication, to smart lock, check-in/out, message updates, auto responses, pool cleanings, property maintenance, etc. The challenge was getting the property up to our standards and renovating it prior to furnishing.

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

I work with experts in insurance, short term rental-based lending, contractors, brokers, investors, cleaners, maintenance, and everyone in between in Brevard County (space coast, greater Melbourne area) Florida. I would be happy to put you in touch with my recommended resources. Shoot me a text or call me at 443-243-8684 to discuss!