Galveston Airbnb fix and flip

[Leisa Neal]

Investment Info:

Single-family residence other investment.

Single family historic bungalow. Restage and get actively producing income to resale

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

fsbo and I was friends with the owner.

How did you finance this deal?

My banker said "here you go" and gave me money

How did you add value to the deal?

Added higher end furnishings, improved the amenities. Added comfort factors and ease of entry. Did heavy marketing to bring in more guests. Tripled the rental income within 9 months.

What was the outcome?

Had several offers from guests and sold at a profit.

Lessons learned? Challenges?

My biggest lesson learned on this one was that no matter how nice you make a vacation rental, there will be both people who don't appreciate anything and break everything they touch and there will be those who love your place so much that they want to buy it.

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

I am a Realtor.