STR hold and cashflow

[William Ball]

Investment Info:

Single-family residence buy & hold investment.

Double Rainbow Suites are STR's in the Fort Lauderdale area.

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

The right location and price for a STR

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

Found on Zillow and negotiated the final price

How did you finance this deal?

Conventional loan

How did you add value to the deal?

Complete remodel

What was the outcome?

The highest occupancy and daily rate of of any 2-2 with a pool in the area.

Lessons learned? Challenges?

Move fast and be nimble \ flexible.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Jonathan Tang
Berkshire Hathaway

[William Ball]

Quote from @V.G Jason:

How much did your re-model cost? Looks great from 1 photo. I know you said you're looking to do another, why? You made it with this one, you're trying to recreate the same thing but you're going to build competition within itself as it does not monopolize. Unless I'm mistaken, and you're going for another project but not a carbon copy. You want to dominate area, not concept. Concept isn't privy or proprietary in real estate.

Our cost for the remodel was minimal as we did all of the work so the cost was only the material. Yes we have done well with the first unit, but I studied STR's and the business model for over two years before jumping into it. Our goal is not to monopolize the market, our goal is now to build our brand "Double Rainbow Suites" this home is a 2\2 with a pool which we are currently dominating I see better returns in 3 bedrooms and up, and in multiplex complexes where we can continue to build our brand.

None of the units will be "carbon copies" my partner is an interior designer and has created homes and restaurants in Miami, NYC, and Los Angeles so future units will be unique in their own ways each.

We are also building on the brand with a dessert company "Double Rainbow Sweets" with a play on the name. These are for our guest, mail order, and a store front here in Fort Lauderdale first qtr of 2024, stay tuned for more information on all future builds and the "sweets" side here and on our Instagram site.