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

[Reese Newell]

Quote from @William Ball:

Luckily the inside didn't need a tremendous amount of work, lighting, paint, etc.. The backyard is completely redone, the only thing original is the pool everything else we did our-self (I used to do construction a long time ago).

We are doing really well as a STR, averaging 78% or so occupancy the highest ADR of any 2\2 with a pool in the area, the highest number of views, the highest wish-list additions, and the highest conversion rate of all similar units.

I am actively looking for more units now.

what did you use to find those statistics Wil?