Long term rental - my experience

[Jaime Elrod]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $216,200

currently a long term rental, formerly a short term rental

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

the rental rates in my area are incredibly high

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

i used the home as my personal residence first and then rented it out when i was able to move

How did you finance this deal?

self

How did you add value to the deal?

i slowly upgraded the property over the 3.5 years I lived there, including building a fence, painting throughout including kitchen cabinets, adding new hardware and upgrading all the kitchen appliances

What was the outcome?

I was able to make money on the home as a short term rental and also rent it out long term for a very high monthly rate

Lessons learned? Challenges?

Patience!