All Forum Posts by: Jim Canull

All of our Airbnb properties start with one factor that drives rates up: LOCATION.  Walkability drives Airbnb property rates up 25% more than one that is not walkable.  This opportunity hits our top tier Airbnb, it sleeps 8 guests and is 6 homes away from the main strip in Fountain Square, Indianapolis.  This is a stones throw away from downtown along the cultural trail and is home to some of the hippest restaurants, galleries and bars.  This area is thriving and growing exponentially, this is a rare opportunity to grab a property so close to the strip. This property can be purchased for $135,000 and could be Airbnb rent-ready and staged for $165,000.  We also offer a full concierge service where we would take care of the entire process from purchase to rehabbing, to staging (everything: furniture, dishes, towels, bedding, funky art, etc.).  This is a flat fee of $10,000.  On this property the all-in cost would be $175,000 to be handed the Airbnb listing info with your first booking.   At that point you would either pass the property along to our property manager from there, or we would show you how to change the passwords on your Airbnb account and put your bank info in to take over from there.

This property would rent for $2,250 monthly on the safe side.  Feel free to ask us how we reached those numbers and we'd be happy to share.  We can also provide examples of other Aribnb's we successfully handled in the area to show you the level of finish we require.    BEFORE PIC BELOW AND AN EXAMPLE OF WHAT THE END PRODUCT WOULD LOOK LIKE BELOW THAT.

Our company specializes in helping investors acquire Airbnb rentals.  We usually only come across 1-2 monthly that fit our no-brainer Airbnb policy.  Airbnb is our top priority for one reason, they produce .5-1% more than a normal rental rate.  We have personally rehabbed and flipped properties as well as have been property managers for 275 properties for "normal" executive rentals.  This has given us the experience to know the level of requirements for normal tenants and how that differs for Airbnb tenants.  With this combination we have streamlined the process and can flip an Airbnb quicker and for around half the price of a normal rental property.  This coupled with the monthly income coming close to double that of a rental makes this a win-win for an investor.

I would definitely talk with someone who currently lives in Indy as there are many different areas rapidly growing that only someone living here would have their pulse on.  I have pretty much lived here all my life and barely recognize areas north where I don't visit much like Carmel and Westfield.  Every pocket of Indy is growing rapidly.  You know it's growing rapidly when things can't go out any more and are starting to go upwards.. every where.  If you want to know about any Broad Ripple, Butler, Meridian Kessler or downtown area give me a shout.

Home in the heart of popular Butler/Tarkington.  Great for a family or as a rental close to Butler University.  Purchase price of $205,000.  Estimated fix up costs to flip would be $46,000 for a sales price of $325,000. (Compared to the next door neighbors that just sold this one would be at $323,268,00 to be exact:)).  Another neighbor's home is being renovated and will be going on the market for $650,000 (they claim they already have a buyer).  Let me know what questions I can answer for you as I know the area well; living here for 42 years and working in real estate here for over 16 years.

Yes, I personally bought all of the furnishings (or had some left over at home).... and felt the best value was having absolutely everything ready to go.  They even had around $5,000 worth of bookings already booked.  So I sold all of the furniture, sheets, plates, pans, etc.  I luckily got away with only 4 months of bookings, but let them know bookings only increase over time with people pre-booking their next trip to the area.

Downtown Indianapolis.  We have one city currently that bans Airbnb's, but everyone else enjoys them as much as bike shares and Bird Scooters

Investment Info:

Single-family residence other investment.

Purchase price: $120,000
Cash invested: $20,000
Sale price: $275,000

This is my new favorite concept... all-around the best return on investment for many reasons: Short time period, big returns, low cash involved, and the low-level of finish needed to make this a great rental! There's a certain design formula that gets guests to love the property and only post positive reviews.

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

I had a successful Airbnb and this one was in a great location; which is the primary criteria needed for an Airbnb

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

I saw this was an estate deal where the family members were ready to dump the property

How did you finance this deal?

Hard Money Investor

How did you add value to the deal?

fixed a visually large foundation problem for $10,000 that apparently everyone else was scared to tackle

What was the outcome?

Very little in for repairs overall and some decent money in decorating

Lessons learned? Challenges?

Due to the timing of the first booking I didn't have much time to do half of the finishes I wanted to do. I then did some quick touches and kept receiving 5 star review after 5 star review. So that taught me the level of finish needed for Airbnb's to make it a great investment. I was then able to sell the home high above the appraised value to a cash investor that enjoyed the $3,500 monthly income it produces. I recently bought another property to use the same concept!

Investment Info:

Single-family residence wholesale investment in Indianapolis.

Purchase price: $205,000
Cash invested: $1
Sale price: $240,000

I often find homes and look around for an investor to buy it, but this one I ended up buying on my own.

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

I know the area well and knew this was a no-brainer; which are my favorite type of deals:)

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

I saw the price had a huge reduction and knew they were likely very flexible on the pricing

How did you finance this deal?

hard money lender

How did you add value to the deal?

I didn't have to

Lessons learned? Challenges?

Have more investors in my pocket for deals like this

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

no