Devon Walden is an American Real Estate professional currently based out of Indiana. The entrepreneur has a key focus on finding Real Estate properties in top destination MSAs that have strong demand and turning those properties into AirBnbs. Prior to his current success in the marketplace, Walden was working in property management. During his time, Devon learned the key principles of Real Estate investing. Roughly six months into his career, he began his first house flip — After his first few deals Devon realized there was even more upside in holding and listing on AirBnb. With the help of amazing acquisition debt structuring partners and an eye for finding properties that fit successful AirBnb properties, Devon has quickly built a dense portfolio with consistently booked stays.
To learn more about Devon Walden, we sat down with him to gain more insight on his lucrative model.
What To Look For When Eyeing a Potential Airbnb
Walden recommends searching for properties that are in areas close to popular travel destinations. Occupancy with AirBnbs varies, making sure that your property stay rate is competitive with the local market is certainly important. Devon also mentioned that you want to make sure that the property you are looking at buying has a good amount of equity in it, allowing for a quick refi on the loan to value. With a solid equity refi, this allows you to buy your second property sooner with what Devon calls OPM “Other people’s money”. For those concerned about occupancy, there are many helpful tools such as Mashvisor where you can get data on AirBnb occupancy %’s and get an idea of how hot and competitive your market is.
Get Insight From Devon For Your First Real Estate Deal
If you are well capitalized and looking for insight from Devon himself, the successful real estate investor has a solution for you. You can inquire directly to his consulting firm and get your deal advised by Devon one on one. The firm is called “Prodigious Fellows”, The organization offers services such as: Credit repair, Funding coordination, Property Sourcing, Property Deal Advisory, & much more. The AirBnb market has grown YOY every year since its IPO’d in 2020, with that Devon believes that acquiring property to be listed on AirBnb is a great way to get an even higher return on your real estate investment strategy.
This post is based on the opinion of writers at Real Estate Today