Exciting news, everyone! Renovation Inspiration is back for a second season. And this time, it’s personal — my husband and I just bought the biggest, baddest house on the block in Marina Del Rey that we are transforming into a three-unit rental property. Join me, Lori Dennis, my husband Roy Yerushalmi, of SoCal Contractor, and Lamps Plus on our renovation journey. Watch the first episode of Renovation Inspiration Season 2, here for a sneak peek of what’s to come:
Down to Brass Tax: How Much This Investment Property is Costing Us
We spend $1.4 mm on the property and are pouring another $70,000 into the renovations. When we’re done, we’re hoping to make about $5,000 per month from the rentals.
Location, Location, Location
In real estate, location is everything. The house is huge and 20 blocks from the beach in an up and coming neighborhood in Marina Del Rey. Which leads us to how we decided to design the space – we’re keeping it cool and coastal. Here are some of the biggest takeaways when you’re planning on designing a vacation rental property:
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Designing for Air BnB
The two most important things when designing an Air Bnb are budgeting and maintenance. It’s a business after all and you’re not designing your personal dream home. You’re building and decorating a space to be utilized as a vacation rental – used by different people, coming and going, each week. So when in doubt…
Brighten it up! Paint it White.
We’re calling this place the Big Green Monster because when we first bought it, it looked pretty atrocious. Saying it was a fixer upper is quite the understatement – initially my husband couldn’t see the potential in this property but once we slapped a fresh coat of paint on it, that vision became much clearer.
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Reuse, Recycle, Repurpose!
We’re keeping the original countertops and cabinets in the kitchen, we’re just giving them a refresh! Stay tuned for the next episode of Renovation Inspiration as we go into more detail about how we’re repurposing and refreshing some of the home’s existing features to save our budget and the environment!
You might spot some painter’s tape as this bath is still a work in progress! But oh boy, does that Villa Lagoon tile look good in there?
Style and Decor for an Air Bnb
We took this giant home and are segmenting it into three separate units. Because they vary in size and amenities, each is going to appeal to a slightly different renter. Here’s an overview of what you’ll find in each of the three units. We wrote a guide a while back on how to design an Air BnB to maximize your vacation rental profits, which you can read here.
Casual Coastal
We took our cues from the locale and the architecture of the home and are going full coastal in the first unit. You’re going to find beachy art and coastal architectural touches like shiplap throughout the home.
Eclectic Decor
An eclectic theme gives you a lot of flexibility in designing with a vacation rental in mind. It’s easy to mix high and low, adding visual interest on a budget.
Global Style Air Bnb
This unit is for the renter who loves adventure and travel as much as we do! This global style space is for the traveler who doesn’t plan on spending as much time in the space as they do exploring the local neighborhoods and beaches.
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