Updated almost 4 years ago on . Most recent reply
First Traveling Nurse Short term rental
Investment Info:
Condo buy & hold investment in Louisville.
Purchase price: $84,000
Cash invested: $10,000
Bought a 2 bed 2 bath condo from a local wholesaler. Purchased for 84,000 using Hard Money. Renovated the unit for $10,000. Spent another $3,000 furnishing the unit. I list the unit on airbnb, vbro, and furnished finder geared toward traveling nurses. Due to Louisville regulations, this property has a minimum 30 day rental requirement.
How did you find this deal and how did you negotiate it?
through a local wholesaler
How did you finance this deal?
I used a local Hard Money Lender for initial purchase and rehab. Then I refinanced with a commercial lender to hold long term.
How did you add value to the deal?
I put about $10,000 of renovation into the property. New paint, flooring, miscellaneous plumbing & electrical repairs, and a deep clean. I then furnished the property.
What was the outcome?
It is rented out on Airbnb. It had its first 30 day booking within 3 days of going live and now is booked through May already.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Worked with Annex Capital for my hard money loan
