We found this house through our local MLS and it was funded through one of our favorite HML's,. This is a small bungalow style house in a fast-growing area in town where it was outdated, had termite damage and needed our team to provide some new life! We went in with the exit strategy that we would rehab the house and resell it. Once we rehabbed the house, we put it on the market and had a lot of showings. We received several offers, but not quite the offer we were hoping for. We knew this property was made for so much more greatness. We immediately scheduled a call with Christy Duckett Harris and she recommended turning it into an Airbnb/short term rental. We did some research of the area and the going rates for Airbnb. We are now steadily booked and CASH FLOWING on average $750 per month! What a great concept and a different exit strategy!
How did the FortuneBuilders team and resources help you to accomplish this deal?
Through our education and coaching, we were able to talk through our different options when we were getting below than asking price offers. Since this coaching call and introduction to the Airbnb concept, we now own 4 Airbnb's and have to think about this strategy first when we discuss buy and holds.