Updated about 3 years ago on . Most recent reply
Disney STR is LIVE
Investment Info:
Townhouse other investment.
Purchase price: $470,000
Cash invested: $75,000
First Short-Term Rental in the Disney area! Projecting it will have north of a 30% COC compared to my active competition and local insights!
What made you interested in investing in this type of deal?
I work here locally and often see what the returns are in the area.
How did you find this deal and how did you negotiate it?
I represented myself as an agent, negotiated closing cost and repairs to the home for $12,000. Also I raised my interest rate on my loan to get points from my lender to help with cash out of pocket, $14,500 in additional closing cost. Representing myself as an agent I also got to pocket the commission of the deal.
How did you finance this deal?
Conventional financing with a bank statement loan being self employed.
How did you add value to the deal?
Home over appraised and the repairs were minimal.
What was the outcome?
Now an active abnb
Lessons learned? Challenges?
Dont overlook AC units...
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I represented myself in the deal and actively work and sell STR's in the Disney/Orlando area.