Rehabbed a Yacht! Now It's an AirBNB on the water!!!

[Mya Toohey]

Investment Info:

Other other investment.

Purchase price: $29,000
Cash invested: $18,000

Purchased a 37 Ft Silverton Yacht. Fully rehabbed the inside just like you would rehab a home. New quartz counter-tops, sink, fixtures, bathroom, new lighting, new flooring, new paint and reupholstered the cushions for the bed and seating area. We now AirBNB the boat for $79-$149 a night. $2600 average a month income on a $50,000 investment. It was all purchased with cash.

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

Return on investment all the way!!!! Low purchase and rehab high returns.

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

Boat broker

How did you finance this deal?

Cash

What was the outcome?

Awesome money maker!

Lessons learned? Challenges?

It is a boat....They are very expensive to maintain if you want it to be able to go out onto the water. Keep that in mind...Everything for a boat is 3x more than a house.

[Pat L.]

Talk about 'floating ' a great idea. Congrats on the 'out of the box' thinking. We stayed on a lot of them during my few years the UK. They were old smelly house boats that had a lot of character & still conjure some great illicit memories. If I had one I would call it "Tax Seavasion"!!!