AirBnB-- Ski Cabin in Wardner Idaho

[Nick Beveridge]

Investment Info:

buy & hold investment.

Purchase price: $98,000
Cash invested: $5,000

This is a very private vacation rental on the mountain of Wardner. Access is not far from down. Very rustic ski cabin.

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

I actually use to rent this cabin when I moved back to Idaho from Florida several years ago. I know it was in a very unique private setting for the town.

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

MLS.

How did you finance this deal?

Bought with a 2nd home loan. Needed 10% down. Asked the seller to up my commission from 3% to 10% plus cover closing cost... So I really bought with 0 of my own cash.

How did you add value to the deal?

About $5000 worth of an interior paint job and buying new furniture.

What was the outcome?

It's currently bringing in almost $1000/mo in cashflow after ALL expenses. That could always change. It's pretty new.

Lessons learned? Challenges?

I'd buy another one of these if I could find it.

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

I'm an agent and I'd always recommend using me lol.