6th airbnb live - Management is getting overwhelming!

[Cory Howes]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Eagle Harbor.

Purchase price: $392,000

Duplex and separate tiny home on 2.75 acres with 600+ feet of Lake Superior frontage, private boat launch. Currently using as a short term rental.

https://airbnb.com/h/tiny-agate-on-lake-superior

https://airbnb.com/h/catharbor-greenstone

https://airbnb.com/h/catharborcoppersuite

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

I've always wanted to own lake frontage

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

MLS

How did you finance this deal?

1031 Exchange and 5 yr balloon

How did you add value to the deal?

Remodeled all three units.

What was the outcome?

It has become a very successful short term rental. It's the busiest units we own. Average of 80% occupancy.

Lessons learned? Challenges?

Setting up 3 airbnb units in 6 months has been exhausting.

I think i'm burned out!!!
Actually, I know I am.