Blue Ridge AirBnB Experiment

[Brad Panek]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $209,000
Cash invested: $10,000
Sale price: $260,000

Bought to utilize as a vacation spot in the mountains. Was also able to generate substantial AirBnB income while away. Ended up selling to pursue other real estate endeavors in FL and to free funds to open our Real Estate Brokerage.

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

A mountain location during hurricane season was a plus. We also loved the area and could generate income while holding the property while also selling for a premium.

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

Searched locally for a few months after spending a few weeks there on vacation.

How did you finance this deal?

Conventional Deal.

How did you add value to the deal?

Knew where to spend money on improvements and how to successfully price AirBnB's to limit vacancy.

What was the outcome?

Made consistent monthly income and sold for a premium!

Lessons learned? Challenges?

Always harder to manage some aspects of rentals (cleaning/maintenance) from afar...

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

Noah Bearden was great - a phenomenal local Blue Ridge Agent!