New AirBNB in Ft Lauderdale to add to the inventory

[Kate Hayes]

Investment Info:

Single-family residence buy & hold investment in Fort Lauderdale.

Purchase price: $243,000
Cash invested: $40,000

I rent this out through AirBnB. It is a house close to the beach and the airport. I fully furnished it when I bought out and it was already remodeled.

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

I wanted an AirBNB I could use when I came to town but now it is a full time AirBNB. I find they cost more up front but make more monthly.

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

I am a Realtor so I found it myself and purchased it myself.

How did you finance this deal?

My own money and commission went into the closing costs.

How did you add value to the deal?

I furnished the house, had it tented for termites, re sealed the flat roof, cut down some of the overhanging trees.

What was the outcome?

It is fully rented for a month out. Very popular with the airport crowds and those looking for longer stays (aka more than two weeks).

Lessons learned? Challenges?

Find a good property manager than specializes in Airbnb if you don't have the time to manage it yourself.

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

Myself.