Personal home to STR

[Kyle Branum]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $55,000

We purchased over first house just before we got married in 2006. We were kids (21 and 18) and didn't want to rent. We bought a foreclosure and with lots of help from family and friends we completely gutted it and basically built a new house. Fast forward to today and we now cashflow $1,900/mo as a STR.

What was the outcome?

We bought what we could afford very young and honestly couldn’t afford to move out of it and buy anything else for 13 years. Now it’s the first listing on Airbnb in our city and the equity is going to completely change our financial future.

Lessons learned? Challenges?

Equity built over time is very powerful. It’s not fast but grows wealth exponentially. We didn’t know anything about real estate or investing, we just couldn’t afford anything else. I read Rich Dad Poor Dad a couple of years ago abd real estate is all I think and learn about anymore. It’s become very fun to me.