This as-told-to essay relies on conversations with Selena Lounds, 47, an Airbnb host in Hudson, New York, about 120 miles from New York Metropolis. To raised afford homeownership, Lounds purchased a house together with her greatest buddy. The conversations have been edited for size and readability.I used to be dwelling in New York Metropolis and spending a lot cash on hire that proudly owning a house did not really feel attainable.Throughout the pandemic, I used to be caught in my little residence and finally reached a degree the place I wished to maneuver. I had pals who had purchased a house in upstate New York, and I believed, ‘Possibly I may do this too.’ However I used to be additionally a single girl, and I did not know tips on how to navigate the method by myself.The anxiousness kicked in. I used to be scared to do it on my own and apprehensive about making the unsuitable determination. Nonetheless, by then, I might reached a degree in my profession the place I lastly had extra cash to speculate.I had plenty of issues, although: Did I actually wish to depart the town? Would I have the ability to make new pals? Might I truly afford it, and was I able to shift my life in such a giant method?
Wade TK and Selena Lounds.
Courtesy of Selena Lounds
Fortunately, a buddy of mine, Wade, was on the lookout for an funding property in 2021. We determined to hitch forces. We wished an Airbnb-friendly homeIn early 2022, I used to be on LinkedIn once I noticed a submit from Niles Lichtenstein. He was speaking a few new enterprise he was beginning: Nestment, an actual property platform meant to assist folks co-buy houses.I used to be like, “Holy crap. That is what I am attempting to do.” So I reached out.Nestment’s largest promoting level was its app. It actually helped us make sure that we had been selecting the best funding property in the correct location.
Hudson, New York.
OlegAlbinsky/Getty Pictures/iStockphoto
Wade and I knew we wished to stay within the Hudson Valley, however there have been so many locations to select from. We additionally knew we wished a weekend home that we may flip into an Airbnb as a result of despite the fact that we had some financial savings, we could not afford to have a home simply sitting there empty.In Nestment’s app, we may drop in an tackle and see the potential earnings based mostly on what different Airbnbs within the space had been charging per evening. It even estimated how a lot earnings we may generate yearly and the way a lot every dwelling was more likely to respect through the years.
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We had been additionally in a position so as to add my actual property agent to our homebuying group within the app. Collectively, we curated an inventory of houses value touring, saving us plenty of time.After about 10 months of on the lookout for the correct dwelling, Wade and I bought a 2,100-square-foot dwelling for $565,000. It has three bedrooms and three loos. We determined to deal with the acquisition like a enterprise, so we opened an LLC and cut up the price evenly.We have made 1000’s renting out the homeThis is our third summer time proudly owning the house. We have now had over 30 Airbnb friends — I am a superhost. Our fee fluctuates, however our base fee is $300 an evening.In 2023, we did not open the Airbnb for friends till the tip of Might. On the time, we had been working with a property administration firm that took 25% of our earnings, leaving us with $16,126. In 2024, we earned $35,702.40, and up to now, in 2025, we have already earned $9,220.No matter we earn, we put again into the home. For instance, final 12 months, we renovated the basement. We see the house as a long-term funding, particularly since it would solely proceed to understand.
Selena Lounds’ upstate New York dwelling.
Courtesy of Selena Lounds
I like the home. I am form of obsessive about it. It is my first little one. The house is considerably out of city, and it feels form of distant, however there’s a Walmart about seven minutes away, so it is one of the best of each worlds.It sits on nearly two acres, and we’ve a bit of barn. The again of the property backs up towards a subject that normally has wild corn or beans rising. I have been gardening, and final 12 months, I planted timber. I am nonetheless engaged on getting a scorching tub up right here, too.
Downtown Hudson, New York.
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Hudson is an excellent fashionable space. It is an previous city that has had a resurgence within the final 10 years. The downtown is basically stunning, with plenty of boutiques and retailers. There are additionally many marriage ceremony venues within the space.There’s an Amtrak station on the town, which we thought of once we had been deciding the place to purchase our home. If we had been going to Airbnb the house, we would have liked it to be simply accessible for folks from the town, both New York Metropolis or Boston.We arrange guidelines for co-owning the homeIt’s not all roses and glitter when co-owning a house with a buddy, however it’s principally good. I am actually pleased with what we’ve performed.Wade and I’s settlement is that we are able to use the house for private use, however we won’t stay there.We even have an settlement on sustaining the home. If we have to restore one thing that is underneath $500, we are able to do it with out speaking to at least one one other. But when it requires more cash, we have to have a dialog about it.
Lounds’ yard.
Courtesy of Selena Lounds
I do many of the Airbnb duties, like establishing automated messages for friends and checking them in. However we even have an excellent housekeeper and garden man.Having this place is superb. I really feel like I am actually investing in myself, and so managing the house feels extra impactful and particular. And going by means of it with a buddy, someone I belief and know is equally invested, is equally superior.Co-buying a handmade me really feel extra confidentThis 12 months, I purchased my first dwelling by myself: a four-bedroom, two-bath dwelling with 1,600 sq. ft on 1 / 4 of an acre. It is a bit of little bit of a fixer-upper. Proper now, I’m portray it.I stay on the opposite facet of the Hudson River, in Saugerties. My house is within the village, and I like my neighborhood. Fashionable conveniences like espresso retailers, bars, and eating places are at my fingertips. Every part’s actually walkable.I am additionally in a spot the place I can construct a neighborhood and make pals.
A harbor in Saugerties, New York.
Linda Bielko/Getty Pictures/iStockphoto
There’s one thing totally different about telling folks you personal a house. They’re like, “Oh, rattling.” I find it irresistible.Infrequently, I nonetheless discover myself taking a look at different locations and evaluating them to mine, pondering, “If I had been to do that once more” or “The subsequent home would have this or that.”For now, I believe I’ve received my arms full with this one. However by no means say by no means.Axel Springer, Insider Inc.’s dad or mum firm, is an investor in Airbnb.
