S
elena Lounds, 47, an Airbnb host in Hudson, New York, bought a home with her best friend Wade Jensen to better afford homeownership. They turned the property into a short-term rental on Airbnb, charging $300 per night.
Lounds was living in New York City and spending too much money on rent, making owning a home seem unattainable. During the pandemic, she wanted to move but felt anxious about navigating the process alone as a single woman. Luckily, her friend Wade was looking for an investment property, and they decided to join forces.
They used Nestment's real estate platform, which helped them choose the right investment property in the right location. The app estimated potential earnings based on nearby Airbnb prices and even predicted annual income and home appreciation. They curated a list of homes worth touring with their real estate agent, saving time.
After 10 months of searching, they purchased a 2,100-square-foot home for $565,000. They treated the purchase like a business, opening an LLC and splitting costs evenly. The home has three bedrooms and three bathrooms, and they've made thousands renting it out on Airbnb.
Their rate fluctuates, but their base rate is $300 per night. In 2023, they earned $16,126, while in 2024, they earned $35,702.40. They put earnings back into the house, renovating the basement last year. The home sits on almost two acres and has a barn, with a field behind it where Lounds gardens.
Hudson is a trendy area with boutiques, shops, and wedding venues. There's an Amtrak station in town, making it easily accessible for city visitors. Lounds and Jensen set up rules for co-owning the home, including using it for personal use but not living there, and maintaining the house together.
Lounds manages most Airbnb tasks, but they have a housekeeper and lawn guy. Co-buying a home made her feel more confident, and she's now buying her own home in Saugerties, where she can build a community and make friends. She loves telling people she owns a home, saying it's like "Oh, damn."
