Updated over 3 years ago on . Most recent reply
Short Term Rental condo in Destin, FL.
Investment Info:
Condo buy & hold investment.
Purchase price: $275,000
Cash invested: $70,000
Short Term Rental condo in Destin, FL.
What made you interested in investing in this type of deal?
I am very interested in growing a portfolio of STRs in the emerald coast.
How did you find this deal and how did you negotiate it?
This deal was brought to me by Matt "Roar" Gardner and his team. We bought it off of the MLS.
How did you finance this deal?
Conventional loan at 80% LTV
How did you add value to the deal?
Light renovation. Redid countertops, painted, changed vanities and added some thoughtful touches to make the listing really pop.
What was the outcome?
We will be listing it on AirBnB shortly. We project approx. $45K gross annual income.
Lessons learned? Challenges?
This was our first deal, so it's been a learning experience getting it to the place we want it. Overall we are very happy with the outcome, but the work took more of my time than I expected.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes. We worked with Matt "Roar" Gardner and his team. I highly recommend them! They were amazing to work with.
Most Popular Reply
Go @Caleb Pavao & Team Roar! I look forward to seeing your portfolio grow!