Mille Lacs County, MN Official Website

AirBNB investment property

I am new investor looking for my first investment property. I found this property in Onamia, MN. It's a 1 bedroom, 1 bath for $39,900 with a square footage of 400 sq ft. This location is right next to Millie Lacs Lake. This is one of the largest lakes in Minnesota. Property comes with an owned permanent slip in the harbor and access to the shower house. It is also 5 mins away from the Grand Casino Mille Lacs.
I feel that location wise this is a pretty good spot for an AirBNB. The range of prices for properties in that area are about $50-150 for single occupancy. I was thinking I can get a couch bed or futon to count that as an extra bed.
There's a $600 HOA for the doc. Taxes are $493. I'm estimating insurance will be around $600 (not completely sure on this). With 20% down and guesstimating probably be about $350 month without including utilities.
A couple of questions that I am unsure about: 1. How to do I estimate utilities on a location that isn't used everyday? 2.What are some things I need to watch out for? 3. How many days do you typically estimate for vacancy when doing an initial evaluation?
If you need further details about the location or property please let me know what you need.
submitted by Gohan921 to realestateinvesting [link] [comments]

AirBNB investment opportunity

I am new investor looking for my first investment property. I found this property in Onamia, MN. It's a 1 bedroom, 1 bath for $39,900 with a square footage of 400 sq ft. This location is right next to Millie Lacs Lake. This is one of the largest lakes in Minnesota. Property comes with an owned permanent slip in the harbor and access to the shower house. It is also 5 mins away from the Grand Casino Mille Lacs.
I feel that location wise this is a pretty good spot for an AirBNB. The range of prices for properties in that area are about $50-150 for single occupancy. I was thinking I can get a couch bed or futon to count that as an extra bed.
There's a $600 HOA for the doc. Taxes are $493. I'm estimating insurance will be around $600 (not completely sure on this). With 20% down and guesstimating probably be about $350 month without including utilities.
A couple of questions that I am unsure about: 1. How to do I estimate utilities on a location that isn't used everyday? 2.What are some things I need to watch out for? 3. How many days do you typically estimate for vacancy when doing an initial evaluation?
If you need further details about the location or property please let me know what you need.
submitted by Gohan921 to AirBnB [link] [comments]

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