Miami Short Term Rental

[Jesse Rodriguez]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $565,000
Cash invested: $200,000

Current Price: $599K (originally $649K, 67 days on market). Seller purchased in Sept 2022 for $274K, leaving room for a "win/win." Current "As Is" Value: $589K. Target Price: $575K-$589K; ARV: $630K. Repairs: Add a pool ($65K). Offer: $580K. Loan: Bank Statement, $4,300/month PITI. STR income: $130K/year. Net post-mortgage: $52,392/year. Investment: $200K; ROI: 26.29%/year; 10-year equity: $1.1M; Total cash return: $1.2M. 10-year equity multiple: 8x on $200K investment.

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

My company provides a comprehensive A-to-Z solution tailored to our clients' needs. We specialize in short-term rental investments through our integrated real estate, mortgage, and property management services, delivering expertise at every stage of the process.

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

Each week, I personally analyze the MLS, leveraging my deep knowledge of South Florida's short-term rental market. I navigate through cities and towns, identifying areas that are both friendly and challenging for STRs. My focus is on uncovering properties priced under $800K with the potential to gross six figures annually. Once vetted, I compile this exclusive list and share it with my clients.

How did you finance this deal?

With over 20 years of experience as a mortgage expert and real estate investment veteran, we leverage our mortgage company to secure below-market financing for our clients, ensuring maximum value and profitability.

How did you add value to the deal?

As a one-stop shop for mortgage, real estate, and property management, we save our clients money while streamlining the process. With a single company and one point of contact, we deliver unparalleled efficiency and synergy, making the experience seamless and hassle-free.

Lessons learned? Challenges?

This property will require a pool to fully optimize its earning potential, and I've already factored that into my calculations.

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

Yes, I am the team.