We are somewhat handy and would not mind fixing up the house while living in it. 3.

Getting Fair deals on labor and repairs comes from developing win/win relationships with contractors.

Attend local builder associations or networking events, and focus on small contractors or businesses without in-house permit expertise.Highlight how you save time and ensure compliance—it’s a big value-add.

I have an LLC which holds a 505k mortgage on a house in the Hudson Valley that I currently rent out on Airbnb.

Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

A few years ago there were a lot of get rich quick types, and I still get contacted by people who think they can buy 2 houses and retire on the cashflow. 

We’re looking to renew lease until June 2026 would like to move in new house.

As you begin you REI journey here is a piece of advicecheck out this website for a great over view of a city https://www.areavibes.com/This website gives you a total livability score and you can see things like crime rate, housing, walking score and more.Best of luck!

Wish they would build houses with this style of architecture still.

VRBO bookings have been down Airbnb bookings have been up, but it has its own problems like siding with a guest who trashed my house with unauthorized party , truly if I had the time I would try to get off these platforms and go direct to customer, easier said than done.