Virginia AirBNB property

[Heidi Johnson]

Investment Info:

Single-family residence buy & hold investment in Front Royal.

Purchase price: $289,000
Cash invested: $49,000

My first Air BNB, located in Linden VA. I can share per night charges, cleaning fees, as well as profit if interested in numbers and starting your own!

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

I was much more inclined to start an Air BNB than hiring a property management company to babysit my property with a single tenant for a set period of time. This way I'm able to check up on it as I please and also have a place to stay should I ever visit the area. It's also way more profitable this way (at least where this home is located).

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

This was my primary residence for a couple years and when I moved to Nashville, I needed more equity in the property to sell so renting it out was a much better option.

How did you finance this deal?

Mortgage.

How did you add value to the deal?

With my house being newer than any other rentals in the area, it is much cleaner and appealing to renters. I also have a cabin theme for a cozier feel for those that want to escape the city!

What was the outcome?

Profit! :)

Lessons learned? Challenges?

1) Renters don't always follow the rules and do not appreciate reviews that point that out. But I feel as a host, it would be my responsibility to make other hosts aware of what rules a specific renter breaks.
2) Furnishing the house after moving out! It can get very expensive, I recommend Facebook marketplace or looking for people that are downsizing.

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

My real estate agent to buy the property was a family member, If you're interested in buying in Fredericksburg VA contact me for her info!

[Jeff Alwine]

@Heidi Johnson Nice place that looks like it’s in the mountains on some land. I’d love to see numbers for the air BNB- how often is it rented? I’m in manassas and currently looking for rental property in Front Royal so your post hit my keyword. 
Thanks for sharing