All Forum Posts by: Mihir Bhimaraju

@Melissa Gittens My next step would be to diversify my investment portfolio and get a single family and then a duplex. My offer might get accepted on a property I made an offer on, as we speak. But here's to a new beginning! I'm paying all cash for this one and a good chunk of it came from saving up and AirBnB!

Thank you, @Melissa Gittens!

@Christine Kankowski I definitely agree and thank you!

Hello BPers!

I was initially hesitant to post this as I was contemplating whether this is a success story yet, but I'll let the BP world to decide. I'm sure everyone has a story on how they came across BP and here's mine.

About me- I'm an engineer by profession and based out of Indianapolis. I bought my primary residence 2 yrs ago and I've had spare bedrooms so I decided to give Airbnb a try. 

I've had an out of state investor from California stay with me and we got talking about investments ( that's my fav topic) and that's how I came across BP. He suggested my rental to his investor friends and I got more and more folks to stay with me.

Long story short, doing airbnb on my primary residence has not only helped me connect with great minds, socialize and share stories and give me a chance to host some wonderful folks, but it also helped in mortgage payments, provide additional cash to invest in rentals and also provide tax breaks. 

Though airbnb-house hack isn't for everyone, I'd like to point out the benefits.

1) Higher rate of return than a monthly rental.

2) Flexibility on whether to host or block dates.

3) Help with mortgage payments.

4) Re-invest additional cash in home improvement which helps in appreciating property value.

5) Tax Benefits

Here's a snippet of how I used the spare change to renovate the family room( pardon my poor photography skills). I'm not sure if this is the best strategy for everyone, but this is A STRATEGY that folks can try. I'm interested to hear your thoughts!

I love this thread.

My degree is in Electrical Engineering with 5 yrs of work exp. It might not have helped my directly but the process of analysis, math estimations, structure and planning has come in really handy.

@Zachary Clevenger Welcome, Zach!  I live off of exit 101. Let's connect!

@David Zheng Great story man! How can I read about your success story? Is there a blog post where you note down your deals and financials?