SFR W/ Guest house now successful STR/MTR on Airbnb!!

[Jeremiah Alton]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $355,000
Cash invested: $25,000

Contributors:
Lyra Dominguez

House with guest house. The guest house has been remodeled and we landscaped the whole property. Guest house is occupied 93% of the year!!

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

We are always looking at ways for more financial freedom!

How did you finance this deal?

Conventional loan and we just ReFi into a 1st position HELOC.

[Jeremiah Alton]

For a 1st Position HELOC, it becomes your mortgage. So all of my income goes toward paying down the principle. As it gets paid down I build equity. Since it is a HELOC. I can draw money from the equity to use for anything I want. My plan is draw equity to purchase a second home, then a third and fourth.