All Forum Posts by: Heidi Johnson

The occupancy rate is about 60% right now which well covers the mortgage and then some. We charge $162/night and offer discounts on the weekdays that are not booked. The mortgage is $1650 and at 60% occupancy it would come out to be roughly $1104 in profit not including utilities. We plan to add more to the property so we can increase the daily rate. 

Properties in this area are priced well and would recommend buying for AirBNB over renting it out. As an AirBNB it's basically coming out to be a 1% rental which would never happen if you put a tenant in it. 

It's not necessarily needed to get there, but it's something to consider when thinking about commission. Are you only looking to invest in PA?

Investment Info:

Single-family residence buy & hold investment in Front Royal.

Purchase price: $289,000
Cash invested: $49,000

My first Air BNB, located in Linden VA. I can share per night charges, cleaning fees, as well as profit if interested in numbers and starting your own!

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

I was much more inclined to start an Air BNB than hiring a property management company to babysit my property with a single tenant for a set period of time. This way I'm able to check up on it as I please and also have a place to stay should I ever visit the area. It's also way more profitable this way (at least where this home is located).

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

This was my primary residence for a couple years and when I moved to Nashville, I needed more equity in the property to sell so renting it out was a much better option.

How did you finance this deal?

Mortgage.

How did you add value to the deal?

With my house being newer than any other rentals in the area, it is much cleaner and appealing to renters. I also have a cabin theme for a cozier feel for those that want to escape the city!

What was the outcome?

Profit! :)

Lessons learned? Challenges?

1) Renters don't always follow the rules and do not appreciate reviews that point that out. But I feel as a host, it would be my responsibility to make other hosts aware of what rules a specific renter breaks.
2) Furnishing the house after moving out! It can get very expensive, I recommend Facebook marketplace or looking for people that are downsizing.

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

My real estate agent to buy the property was a family member, If you're interested in buying in Fredericksburg VA contact me for her info!

Are you looking for hard money lenders?

Hey David,

So, I have not seen a "lull" in price/rent price/ or vacancies. I have had investors purchase rentals in middle Tennessee and surprisingly a lot of them are better than 1% rentals and some of them are sold with lease agreements tied already. The rental market especially in Columbia has been on fire lately! 

Investment Info:

Single-family residence buy & hold investment in Front Royal.

Purchase price: $289,000
Cash invested: $49,000

I have a long term rental, it's a quaint country home on over an acre of land built in 2017. It's a 3 bed/2 bath, has stainless steel appliances, a gas fire place, 2 car garage, dog door with dog run connected in the back, covered front porch, and a large deck with welcoming French doors. The home is equipped with a Nest, a Ring doorbell, and an X-finity security system.
Has potential to increase in value when the metro gets built farther west.

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

Its a highly sought after neighborhood and close to the town of Front Royal.

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

Well known builders in the area.

How did you add value to the deal?

Landscaping, appliances, extended the driveway for more parking