All Forum Posts by: Jack Reipke

Investment Info:

Single-family residence buy & hold investment in Charleston.

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

We (my wife and I) purchased this home in Charleston, SC in June 2020. This was our first house hack and is currently operated as a low-maintenance STR via Airbnb. We easily cover the cost of living at this home and cash flow ~$1,000 per month on top of that. Being a Revenue Consultant with Beyond, I am able to achieve a year-round occupancy level of ~85-90%.

How did you add value to the deal?

$25k into renovations, furniture, etc.

Investment Info:

Single-family residence buy & hold investment in Charleston.

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

We (my wife and I) purchased this home in Charleston, SC in June 2020. This was our first house hack and is currently operated as a low-maintenance STR via Airbnb. Sam (my wife) and I renovated the lower level, fenced off a small section of the backyard, and furnished this space over about a 3-month period in 2020. We easily cover the cost of living at this home and cash flow ~$1,000 per month on top of that. Being a Revenue Consultant with Beyond, I am able to achieve a year-round occupancy level of ~85-90%.

How did you add value to the deal?

$25k into renovations, furniture, etc.

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!

Investment Info:

Single-family residence buy & hold investment in Minneapolis.

Purchase price: $250,000
Cash invested: $50,000

My wife and I bought this home in September, 2017. We lived here for two years, renovated the entire inside in addition to adding a bedroom and bathroom to the unfinished 1/2 story. We have long-term tenants in now and will continue to rent this moving forward!

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

We are handy and did not have the money to buy anything @ 20%. It made sense to do a live-in flip for us.

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

MLS

How did you finance this deal?

Conventional Financing

How did you add value to the deal?

Renovated the entire interior and added a bed/bath to the 1/2 story.

What was the outcome?

Full-time tenants and $850/mo. in cash flow.

Lessons learned? Challenges?

Renovations