1st multi-unit AirBnB property close to 3 ski resorts

[Parker Fairfield]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Bartlett.

Purchase price: $175,000

Cash invested: $50,000

1900 farm house which was converted to 3 units.
I redid all of the hard wood floors, repainted, put in a patio and a hot tub.

Entire house listing: www.airbnb.com/rooms/16251499
· 1st floor listing: www.airbnb.com/rooms/16249133
· 2nd floor listing: www.airbnb.com/rooms/16250535
CHECK OUT THE SNOW MELT SYSTEM by the hot tub!
· 3rd floor listing: www.airbnb.com/rooms/16251131

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

Passive Income

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

Zillow.com I think
I was living in China at the time, and contacted several real estate agents who helped me look at it remotely.

How did you finance this deal?

Cash

How did you add value to the deal?

the wood floors, building out the 3rd floor as an apartment, putting in a large patio WITH SNOW MELT SYSTEM, and putting in the 7 person hot tub outside.

In the process of adding closed cell spray foam everywhere

What was the outcome?

It's turning out about 60,000 in annual income.

Lessons learned? Challenges?

I should have done the insulation inspection faster

Above, you can see that the exterior wall has very poor insulation around the plug (Purple is cold, white is hottest)

Here's the door from the inside - look at the cold air coming in. In NH that's a lot of wasted energy.