First year as STR hosts = we're ready for the next one!
Investment Info:
Single-family residence other investment.
Purchase price: $172,000
Cash invested: $20,000
First vacation home and short term rental.
What made you interested in investing in this type of deal?
Wanted a vacation home but needed to offset the costs.
How did you find this deal and how did you negotiate it?
I am an agent. MLS
How did you finance this deal?
Traditional financing. Second property loan 10% down.
How did you add value to the deal?
Updated flooring and furnished it. Added some decorations and turned the workshop garage into a game room.
What was the outcome?
We love it and so do our guests.
Lessons learned? Challenges?
Wear and tear is real. Currently have a plumber replacing the well pump AND water heater.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes. Me, I'm happy to help you guys too.