AirBnB in West Seattle suburbia!

[David Fitzpatrick]

Investment Info:

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

Purchase price: $575,000
Cash invested: $15,000

House hacked our single-family residence by leasing our 650sqft finished basement on AirBnb. Cash flow is consistent year-around.

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

The walk-out basement and location to our work.

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

Traditional search for a single-family home using a realtor.

How did you finance this deal?

Traditional 30yr mortgage.

How did you add value to the deal?

High-end furniture, custom construction, and themed interior decoration.

What was the outcome?

Consistent cash-flow that covers +80% of mortgage.

Lessons learned? Challenges?

Finishing the lower unit took longer than expected, and more cost than we thought. First time rookies!