Dave's Story

Taking bigger bets with Rabbu’s help

16 Unit Multifamily Building

About the Property

  • 16 units
  • 8,395 square feet
  • $2,390,000 purchase price
  • Asheville, NC

Results

  • 2.1x increase in returns vs. LTR
  • 18% estimated cap rate
  • 18% estimated COC
  • 32% estimated gross yield

Square One

Dave, a seasoned long-term rental investor in the Carolinas, was looking to diversify and break into a booming industry, short-term rentals, but knew he could use some tactical help. Entrusting the best in the biz, Dave leaned on Rabbu to help him get his first short-term rental off the ground — a quadplex in Charlotte, NC. Having won over Dave on short-term rentals as an asset class, and furthermore, on trusting us to manage it and get him the highest returns, Dave was in the market for another short-term rental investment property — this time, a bit bigger.

Rabbu’s Help

After building a trusted relationship with Dave as property managers, Dave knew he could trust us to help him source the best properties and make the best, data-driven investment decisions. After hearing some of Dave’s thoughts and requirements about this new investment, Rabbu set out to do the hard work of sourcing properties, underwriting them, and ensuring compliance. Once we were certain we had the best-of-the-best options chosen, we showed Dave our evaluations of which investments would make him the most money as short-term rentals. We didn’t leave him hanging there, though — we toured the property with him, helped him secure financing by providing data for appraisals, and connected Dave to vendors for furnishing and supplies after the purchase was signed on the dotted line.

Outcome

Dave was impressed with our find, and even more impressed with the revenue projections, so he confidently purchased the property we sourced. Using the vendors we connected him with for furnishing and supplies, the property is currently under renovations, working to make it a chic and stay-worthy addition to the Asheville area. Expecting to launch in Spring of 2022, it’ll be managed by Rabbu and available to stay in soon.

“Short-term rentals were a new strategy for me, and the Rabbu team worked closely with me to help me feel comfortable with this new investment. Their support and data was tremendous in giving me peace-of-mind with my purchase. After seeing what Rabbu has been able to do with my quadplex in Charlotte, I was confident leaning on them to help me expand my portfolio and take on this new venture.”

Dave Reule
Property Investor & Owner