I bought a fixer-upper for $347,000 and turned it into two Airbnbs. It went so well I turned the garage into two more.
An entrepreneur describes her strategy of purchasing a fixer-upper home and converting it into multiple Airbnb rental units to build wealth. She highlights the financial challenges of the current housing market for her generation.
Why it matters
It illustrates the rise of real estate 'house hacking' and short-term rental strategies as a response to high housing costs.
Vanessa Banh turned a garage on her property into two Airbnb units. Courtesy of Vanessa Banh Vanessa Banh bought her first home but never planned on living in it. Bahn turned the four-bedroom home into two Airbnb properties, then turned the garage into two more. She said she'd rather make extra money than live in one of the units. This as-told-to essay is based on a conversation with Vanessa Banh , 28, a former accountant turned entrepreneur who bought a four-bedroom house with a garage in Modesto, California, and turned it into four separate Airbnb properties. The following has been edited for length and clarity. I feel like my generation is half and half on whether they want to own a home . Personally, I think it's really expensive now compared to our parents' generation .
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