Updated over 2 years ago on . Most recent reply
My First STR!
Investment Info:
Other other investment.
In April I closed on my first investment property, STR cabin in Gatlinburg. What a process and experience it has been, learning as I go and so glad I finally took the leap!!!
What made you interested in investing in this type of deal?
It was a process to determine what strategy I wanted to pursue, "they" say not to make it personal...I may have made this first purchase a bit personal. Greater opportunity for cash flow with a STR, granted you have your high season and your low season so I was comfortable with the idea the first year I may just break even as I get established as a STR property and figuring it all out. Then the personal side I just love my cabin, although I have not stayed there since I closed on it.
How did you find this deal and how did you negotiate it?
Shout out to the Short Term Shop!! They were great to work with to help me find the property and provide guidance on creative ways to negotiate the best deal possible.
Lessons learned? Challenges?
Lessons Learned: Don't get attached (no regrets about my first purchase but next one will be with an adjusted mindset).
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes. Short Term Shop, agent Ilias Irby!!
