AIRBNB on Westside of Cleveland

[Jacob Gable]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $197,500
Cash invested: $32,758

Buy and Hold Short Term Rental In Cleveland

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

I was always interested in dipping my toes in the short term rental game. Most of my investments were stable and long term so I felt confident taking the risk.

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

I found the deal sitting on the market for 21 days which believe or not is a long time for the area. I was able to negotiate it 21K under asking.

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

We completed renovated the small house and furnished it.

What was the outcome?

So far a little over a year later we are a super host and premier host on Airbnb and VRBO respectively.

Lessons learned? Challenges?

One challenge about short term rentals is that they are not always booked and initially getting those bookings to a minute, people were more hesitant since we didn't have the super host and premier rating. Once we were able to obtain those statuses it has been booked pretty solid.

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

I was the agent on the deal!