Updated almost 5 years ago on . Most recent reply
Garage Conversion and Rental
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $326,000
Cash invested: $100,000
Converted the detached 2 car garage into an ADU, doing most of the work myself. Soon afterwards, we moved to our next house, and am currently renting the main house. We were running the ADU as a Airbnb and making great money cashflow. The whole property currently cash flows a bit over $1,000 per month, depending on the season, Airbnb bookings are pretty seasonal.