Updated over 3 years ago on . Most recent reply
Vacation Rental in St Augustine FL
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $241,000
Cash invested: $60,000
Restored 1940s bungalow just off of King St in St Augustine.
What made you interested in investing in this type of deal?
Pursuing a larger portfolio in the St Augustine and Pigeon Forge areas.
How did you find this deal and how did you negotiate it?
I have a good realtor in both areas.
How did you add value to the deal?
Restored the house and gave it "rental appraisal value" as it was not used as a rental ever before.
What was the outcome?
A high CAP vacation rental with a large amount of up front equity earned.
Lessons learned? Challenges?
St Augustine is tricky to manage remotely. Securing the right logistics prior to buying is something important.