Christian Osgood runs a $1 million waterfront Airbnb on Hood Canal that he combined with a $4.5 million property to offer guests hot tubs and saunas. He says it's lifestyle-rich but cash flow-poor compared to his multifamily units, and recommends investors focus on 5-to-50-unit buildings instead.
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Funny enough, this is the most expensive house I own. This is a little over a million dollar house here on the water, Hood Canal, beautiful little Airbnb we have outside the Robin Hood. I'm here to spend the weekend here because it is in fact my house. We bought this seller financed separately from the Robin Hood, which we bought for $4.5 million seller financed. We combined the two campuses to make it a bigger, better marketing package and a better experience for our guests. But when we do Airbnb, we do it like this outside. We got hot tubs, we got saunas. There you go. You come out on the hot tub, you have the little sauna right there. This is the type of stuff that is cool to own, but I'll tell you what, it's a lot more work and doesn't make nearly as much money as just a traditional multifamily property. While this is lucrative, you want to make real money, you want to scale indefinitely, you got to get a more passive business. Rental properties, 5 to 50 units, you're gonna do way better, easier to scale business. Uh, you won't regret it. But if you're wondering if we do Airbnb, I have in fact done it. Welcome to Airbnb.