All Forum Posts by: Sarah Blesse

@Mark Frattini

I love that you used this strategy! What area of San Diego did you do your live in flip?

@Kim Hopkins

I do long term Airbnb stays with the guest house on my property and it works great! I’ve had 298 out of the last 365 nights booked. My best advice is to be VERY picky about who you choose (ie. no one allowed without prior reviews). That’s the beauty of Airbnb is you can read how they treated other places in the past. I only open up 90 days at a time so I don’t get people booking so far out and I never accept payment off the app. I always do everything through Airbnb. For pricing, I do avg nightly pricing for short term in my area and then offer a 15-20% discount for monthly stays. Hope this helps!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $549,900
Cash invested: $13,000

I purchased a SFR that had a fully permitted ADU. In our county, you can do long term Airbnb stays in ADUs (30 nights or longer). The entire property needed to be rehabbed so we started with the ADU so we could start getting cashflow to cover our mortgage expenses and house hack while rehabbing the rest of the property. The property has been occupied 298 out of the last 365 nights! I'm an Airbnb Super Host and have all 5 star reviews. I love what the house hack has afforded my family!

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

MLS and I saw the value in the ADU so I went in at their asking price and closed quickly.

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

Rehabbed and made the property super attractive to Airbnb clientele.

What was the outcome?

298 night occupied out of the last 365 nights!

Lessons learned? Challenges?

Do long term Airbnb stays, 30 nights or longer. You get great tenants, make more than a long term rental and the turn over is totally manageable!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $305,000
Cash invested: $47,000
Sale price: $434,000

This home was almost lost to a cash buyer, actually it's a miracle the property even qualified for conventional financing due to the condition! I did a live in flip. My husband slowly rehabbed it over 2 years and with forced appreciation and the booming market, we were able to walk away with an $82k gross profit on our first fix & flip project!

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

After a 6 month search, this was the cheapest SFR on the market in San Diego County. My husband and I submitted a letter detailing how we would love to make it our first home together and we won because of the letter!

How did you finance this deal?

Conventional loan - surprisingly!

How did you add value to the deal?

We completely rehabbed the property, top to bottom.

What was the outcome?

$82k in our pockets

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Bakersfield.

Purchase price: $118,500
Cash invested: $21,000

Purchased this property as a Short Sale and used the BRRR method as well as OPM to purchase. I used my own cash for the rehab and after the rehab was completed, the property appraised for $185k. I was able to pull out $135k to pay off the private loan and recoup my rehab cash. I am currently working on converting the garage into a 1 bed/ 1 bath apartment.

How did you finance this deal?

OPM and cash saved.

How did you add value to the deal?

We took the 1200 sq ft house from a 2/1 to a 3/2 by converting the large kitchen into a Master Suite, Dining, Kitchen and Laundry Room (Yes, it was a VERY large kitchen).