Running our first Airbnb!

[Jack Reipke]

Investment Info:

Single-family residence buy & hold investment in Charleston.

Purchase price: $255,000
Cash invested: $25,000

We purchased this home in Charleston, SC in June 2020. We are currently running an Airbnb from the lower-level that is covering our mortgage and about $500-$1000/month on top of that.

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

We wanted to get into running an Airbnb and this lent itself great for that!

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

Broker

How did you finance this deal?

Conventional

How did you add value to the deal?

Updated the entire lower-level, separated the backyard, added a private driveway, $10k in furnishings

What was the outcome?

Currently live on Airbnb and covering our mortgage + about $500-$1,000 each month in cash flow

Lessons learned? Challenges?

How to run/operate a STR!