Personal Airbnb in Indy

[Gina Fosso-Schibley]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $172,000
Cash invested: $43,000

We purchased this rehabbed home and added a privacy fence, removed overhanging trees, finished the countertops, built a firepit, security system, camera's, fixed the sidewalk and turned it into an airbnb. This home has been highly operational with high rates of occupancy, bringing in anywhere from $500-$1500 a month in overage beyond our monthly expenses.

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

We chose this area and home because of the redevelopment in the area, increasing values, proximity to major venues like Lucas Oil and Gainbridge Fieldhouse. Walkable to locally owned restaurants and the street had mostly owner occupied homes that are owned by long time owners. Neighborhood was good, and a park just behind the home.

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

It was a flip sold by another local agent, didn't need inspection due to my husband and biz partner being a contractor, negotiated price down.

How did you finance this deal?

DSCR

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

I am the agent and offer on my own deals. Partnered with longtime lending partner, Frank Pyle