Many people are choosing to renovate a house and rent it out on Airbnb to passing visitors and tourists who need a place to stay because the Airbnb rental business is turning out to be a very lucrative endeavor. For a while, Matt McGaugh and Maggie considered renting out their homes via the Airbnb platform because they believed it would be a smart way to make money.
The couple were searching for a steady and secure source of income, and buying a property is a circular business where, in addition to the original investment, in the event of renting it, the income ends up being just that. First, they did locate a home that they liked: a $350,000 house with three bedrooms and two bathrooms. A short time after their purchase, they became unhappy with the fact that the door of the house next door faced the house they had just purchased and wanted to find a solution. They had donated it to a nonprofit foundation after learning after a quick research that this location was also up for sale and had been vacant for more than 20 years. The couple ultimately opted to purchase for about $200,000. At least the interior of the house was fully furnished and in excellent condition.
The value of the items the new owners discovered, including furniture and works of art, was assessed at $25,000. Maggie offered some information on her Tiktok account, where she routinely shares content on the design and restoration of furniture and spaces, after restoring and decorating it. The most expensive items included a picture worth $1,600 and a table worth about $10,000. Two armchairs and a wood bed, each worth $15,000, were not sold by the couple. “We’re attempting to keep the majority so that our guests may still feel at home in a warm and lovely house,” The pair intends to complete their refurbishment plans later this fall, despite the fact that some specifics are still lacking.
Future guests will have the choice to either rent each property independently or stay in both of the technically connected homes. If they have a full house, they can accommodate a total of 20 people. The couple’s desire to continue buying homes is driven by the valuables they discovered in that abandoned property, however for the time being they intend to recapitulate. For them, it is an amazing opportunity to provide fresh life to a house that had lain vacant for a very long time, allowing others to enjoy it and learn about the history of each item.
@maggiemcgaugh Reply to @maggiemcgaugh RENO starts MONDAY 😍 dont miss it!! 🔨 #abandonedhouse #fixerupper #diyhome #fliporflop #homemakeover ♬ original sound – Maggie McGaugh