Cliff park vintage home turned airb&b

[Melissa Murphy]

Investment Info:

Single-family residence buy & hold investment in Spokane.

Purchase price: $340,000
Cash invested: $90,000

Beautiful single family home close to downtown. This was acquired with the intention of being my personal single family home, until I discovered the profitability of airb&b. For two summers of and on, I have rented out this 3 bedroom 2 bath home for an average of 150-170 a night almost consistently full. Soon, I will transition the property to a full time airb&b after some additional upgrades looking for $200 a night minimum.