Intro post to the Forums

[David Furnish]

Investment Info:

Single-family residence buy & hold investment.

We purchased a property that had a standing farm house already, so as we moved into it we began renovations on the adjacent Amish cabin.

We finished it out and listed it as an Airbnb to much success, with less than 5k in refinishing costs.

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

We travel frequently and always have enjoyed Airbnb, and so hosting made sense. Yet as cabin is on our home property, we didn't want to rent it out long term, so this deal fit perfectly.

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

We searched exclusively for rural properties with "outbuildings" or guest houses, found the niche in our area(the Amish attraction) and marketed our Airbnb to this end.

How did you finance this deal?

VA Home Loan

How did you add value to the deal?

Refurbished the cabin and land itself to attract Airbnb guests, and provide for them all the resources and information for the local area. We maintain good relations with our Amish neighbors who supply our Airbnb with their local milk, bread, and fresh produce.

What was the outcome?

Many happy Airbnb guests, and some extra monthly income in our pockets with minimum maintenance and upkeep.

Lessons learned? Challenges?

Airbnb can be tricky, there will inevitably be bad guests or issues with the rental – but adding value on the front end and managing the guest stay appropriately makes all the difference.

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

Jan Adams(Benchmark) was our realtor and a close family friend, she is the hardest working woman we have known.