Short Term Rental

[Janiqua W.]

Investment Info:

Condo other investment.

Used for Airbnb

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

This was my first and only investment. I was inspired by a Real Estate investor who sold an online course about doing short term rentals.

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

I found this deal on HAR.com ...I met with the owner and explained how short term rentals was better than long term rentals and was guaranteed money based on the data and location.

How did you finance this deal?

I used my own cash.

How did you add value to the deal?

I furnished it lovely and made it stand out from the rest. I added a pool table, wine, robes and I provided snacks/water plus other complimentary items.

What was the outcome?

I became a Superhost on Airbnb and the unit was successful for nearly 2 years. The unit was almost 100% occupied the entire time.

Lessons learned? Challenges?

I learned how to create systems to avoid any mishaps with my team and the guests. It was challenging handling guests who did not want to abide by the rules. During the slower months it was challenging to lower prices and provide specials to guests but the goal is always have the unit occupied.

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

I utilized an online course on airbnb rentals from a Real Estate investor, that I had to invest in and it helped me a ton!