They were marketing to motivated sellers by mailing postcards (which is one of the methods that we teach).

This house was a unique situation because the lead did NOT come in from one of those postcards. It came about from Joe walking his dog around the neighborhood and chatting with a lady who revealed that she was in foreclosure and that she needed to get out of her house before the foreclosure auction.

As a real estate investor, Joe immediately recognized the opportunity and brought his wife Esther over to come and take a look at the house. The house was a mess inside, and the yard was even a bigger mess. But they both immediately realized that this house would make a great Airbnb

They signed a contract to buy the house and closed on it just a few weeks before the foreclosure auction. The seller was very relieved that she was able to sell her house before the foreclosure auction. They purchased this house at a substantial discount to market value.

Joe and Esther knew that this house would make a good Airbnb. One of our other students (Andy) had multiple Airbnb’s in Miami, so after chatting with him and reviewing some of his Airbnb’s they had a pretty good idea of how well the house would do on Airbnb.

The house needed a lot of work. You can see some of the “before” video in the video above. The backyard was a mess with a lot of garbage that had been dumped there. It took 5 days just to clear out all of the junk that was in the backyard. The interior of the house was not much better.

They spent 5 months working on this house, gutting and renovating the interior, and cleaning up and renovating the exterior of the house. Esther used her design creativity and it came out amazing! They put in new kitchens, new bathrooms, countertops, cabinets, and flooring. They also turned the garage into a game room with ultraviolet lights and cool artwork on the walls.

On the exterior, they installed a pergola with a wet bar, refrigerator, wine cooler, barbecue, and TV. They also installed a pool and created different areas for games, and even an island theme “beach” with a hammock. Esther definitely is talented because the net result was awesome. Hard work pays off, and this Airbnb turned out really amazing.

Considering it was their first Airbnb, it is incredible how well it turned out. The Airbnb just went live and is doing very well.

A big congratulations to Joe and Esther on their first Airbnb. They are now looking for Airbnb number two!

Do you want to be the next student success story?

Make sure you don’t miss the Buying Rentals and Airbnb Boot Camp, which is coming up.

If you would like to learn more about my real estate training program, call (561) 948-2127 and speak to one of my Student Support Managers.

To apply for my real estate coaching program, please complete an application at https://www.lexlevinrad.com/application