Mid Century Bungalow - Long Term Airbnb Stay

[Sarah Blesse]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $549,900
Cash invested: $13,000

I purchased a SFR that had a fully permitted ADU. In our county, you can do long term Airbnb stays in ADUs (30 nights or longer). The entire property needed to be rehabbed so we started with the ADU so we could start getting cashflow to cover our mortgage expenses and house hack while rehabbing the rest of the property. The property has been occupied 298 out of the last 365 nights! I'm an Airbnb Super Host and have all 5 star reviews. I love what the house hack has afforded my family!

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

MLS and I saw the value in the ADU so I went in at their asking price and closed quickly.

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

Rehabbed and made the property super attractive to Airbnb clientele.

What was the outcome?

298 night occupied out of the last 365 nights!

Lessons learned? Challenges?

Do long term Airbnb stays, 30 nights or longer. You get great tenants, make more than a long term rental and the turn over is totally manageable!