The best STR deal you ever made was...

[Collin Hays]

With all of the current challenges, how about a trip down memory lane back when things were simple?  Like 3 years ago.  

Here's my best:

I bought a mountain top cabin about 15 miles from Gatlinburg, for $230,000.  Paid cash for it.  Conveying with the property were 5 acres of mountainous terrain across the road.  Not buildable unless you really wanted to spend some crazy money. So I sold those 5 acres in about a month for $40K.  So now, my basis is $190,000.  

I am now 36 months in, and my rents received are $152,538, off of a cash investment of $190K (after I sold the 5 acres).

Songbird of the Mountain - Smoky Mountain Falls

There are three morals to this story:

1.  Good deals come along, and you want to be ready to go when they do.

2.  Good deals can come along even in times when you shouldn't be buying, like 2022.

3.  You are only looking for one good deal. It's best not to be distracted about what "the market" is doing, because you are not investing in "the market", you are investing in one deal.

Happy hunting!

[James Carlson]

Quote from @Collin Hays:

....

I am now 36 months in, and my rents received are $152,538, off of a cash investment of $190K ...

Well, sh**, now you're just bragging. (Congrats on that deal.)