Full gut bought at the bottom of the market turned Airbnb

[David Yoder]

Investment Info:

Single-family residence buy & hold investment in Columbus.

Purchase price: $96,900
Cash invested: $19,380

This was an REO. Rain was coming all the way through the roof and there were settlement issues. This was a "full gut" but man did I buy this one right at the bottom of the market.

Now it's my Airbnb

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

There was so much upside and this looked like the bottom of the market.

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

My realtor brought it to me after I started my search

How did you finance this deal?

Construction loan with draw schedule.

How did you add value to the deal?

Completely remodeled it.

What was the outcome?

This was easily the best financial decision I've ever made.

Lessons learned? Challenges?

Hire out all demo work and don't live in your remodel.

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

My realtor.