2nd airbnb of Raleigh nc area

[Andrew Fidler]

Investment Info:

Single-family residence buy & hold investment in Raleigh.

Sale price: $234,000

Ncsu area. Thus house has been an airbnb/vrbo short term rental property since day 1. It has and is a tremendous place. Large 3 bedroom 3 bath with fenced in backyard for entertainment. The neighborhood is in the beltline of Raleigh close to downtown and has been 100% a great house for family coming in and out of towners.

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

Brian holt / Logan group. And my business partner

How did you finance this deal?

Mortgage 20% down for investment

How did you add value to the deal?

Flipped all appliances inside and out. Backyard is going through transformations now .

What was the outcome?

Great roi . It has been a safe and very welcoming experience to many people that have stayed.

Lessons learned? Challenges?

Upgrade w/ long lasting products . Rentals get treated harder so the time and effort to keep carpet for example take a lot more effort and work.

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

Brian holt. Logan group kw of Raleigh

[Bonnie Griffin Kaake]

Hi Brian, If you don't already know, as a short-term rental you must depreciate this property over 39 years like a business rather than a residential rental. You can also do and engineering-based cost segregation study, the IRS' preferred methodology, and get a lot of that depreciation up front. This would likely give you $12k to $20k in after-tax cash-flow right away.