Updated almost 3 years ago on . Most recent reply
Short Term Rental - Arlington
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $285,000
Cash invested: $120,000
1st STR that got me hooked in the space. Located near AT&T stadium in the Arlington Entertainment District.
What made you interested in investing in this type of deal?
The combination of RE, design, & customer service as the key factors in a successful STR business.
How did you find this deal and how did you negotiate it?
Off market through my realtor. Not much negotiation, seller had a fair price in mind, and I knew we could cash flow form there.
How did you finance this deal?
20% down + conventional loan @ 4.5%
How did you add value to the deal?
Re-did the backyard & turned the backyard garage shed into a game room. Also re-did the kitchen and fixed up aesthetically.
What was the outcome?
Cash flow from day 1
Lessons learned? Challenges?
Know your numbers going into a deal. Renovations will more-than-likely cost more than expected.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
N/A
