Air Bnb Success Houston Tx

[Jasmin Elalfy]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $204,000
Cash invested: $30,000

This deal was an almost brand new construction in an up and coming area on the outskirts of Houston, TX. We got a really good deal on it because it was sitting for a long time and we came in under asking direct to the agent for the seller. We put in around $15,000/$20k worth of construction & furnishings to bring it up to Airbnb standards. The property already came furnished, but we had to replace most of the furniture because it was very cheaply done, Plus, it had no theme and we really wanted to make it a special themed airbnb. So hence the cowboy house was born out of this and this was one of our more fun projects!

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

Cheap buy in, new construction

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

We went directly to the listing agent, and we noticed that it was on the market for a very long time. So we were able to negotiate the price.

How did you finance this deal?

We use the traditional lender and get 15 percent down

How did you add value to the deal?

We added value by making a accent while in the living room, as well as refreshing all the furniture and decorations, painting the property, making a back door. back door out of the master bedroom because there was no way to get to the backyard without having to go through the side as well as some landscaping & new washer dryer.

What was the outcome?

We have a cash flowing investment that we're making passive income with!

Lessons learned? Challenges?

Don't underestimate how much money you could spend when you're trying to get an airbnb ready. making it unique is very important, and it's very easy to overspend!