Updated about 4 years ago on .
Short Term Rental Investment
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $92,000
Purchased this 1.5 bathroom home that is next to a large (largest in the country) indoor sports complex and a hospital. We are going to completely renovate it from bottom to top while adding an additional bathroom. We are turning it into a short term rental. We should have it ready in May 2022.
What made you interested in investing in this type of deal?
The opportunity to make it a short term rental
How did you find this deal and how did you negotiate it?
Off market. I was called to look at listing it and I just bought it for the price that I would have listed it.
How did you finance this deal?
I have an investor that I partnered with that bought it using his own money in our LLC. He is not worried about getting his money back right away so we will use the first few month of profit to pay back what he has in it.
How did you add value to the deal?
Completely remodeling it. Adding another bathroom, leveling the floors, new paint, new landscaping, new flooring, new lighting, new kitchen, new bathrooms, etx...
What was the outcome?
Still under construction.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am an agent.
