Meridian Short Term Rental #2

[Molly Arnott]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $359,000
Cash invested: $5,000

We bought this home first as a primary residence when we moved to Idaho in 2020 knowing it would be a stepping stone for us. Once we settled into our new lives here in Idaho and figured out where we ultimately wanted to land we bought some property and moved out to Middleton. Now we're turning this home into a short term rental. We anticipate it to perform similarly to our other Meridian STR to gross approx $55k/yr.

What made you interested in investing in this type of deal?

We considered long term rents but the cash flow potential on a STR is just so much greater it's tough to pass up.

How did you find this deal and how did you negotiate it?

On the MLS, and luckily we bought this one back when the prices were still fairly reasonable and the rates were fantastic.

How did you finance this deal?

conventional 10% down since we owner occupied.

How did you add value to the deal?

We haven't had to, just furnishings and eventually we'll do some nicer backyard landscaping.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Well I definitely recommend working with me on your short term rental needs, I love it! I've also got a wonderful rolodex of local trades people and lenders I trust.