Experience with STR

[R. Elle Berry]

Investment Info:

Condo buy & hold investment.

Purchase price: $197,000
Cash invested: $20,000

Purchased condo, rehabbed and use as a short-term rental property.

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

In the market for STR

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

Hired knowledgeable real estate agent. Already great deal, price was right.

How did you finance this deal?

Conventional loan

How did you add value to the deal?

Rehabbed entire unit. Only structure and one tub is original. Glazed tub, painted walls & doors, replaced flooring throughout and totally rehabbed kitchen and bathrooms.

What was the outcome?

Listed as STR

Lessons learned? Challenges?

Search for lower HOA, especially without paid parking permits which are not expensive but tedious especially for the guests.

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

I am a licensed Ohio broker and relocation specialist for Orlando Florida markets with a referral agent.