Updated 11 months ago on . Most recent reply
First Beach Rental
Investment Info:
Condo buy & hold investment.
Purchase price: $705,000
Cash invested: $180,000
This is a short term rental on the Beach in OBX. We used a HELOC for cash investment, and a DSCR loan to finance. With the HELOC and interest payments, I'm not hitting cash flow yet. We plan a renovation that will still keep me in the net zero cash flow, but after renovations we expect to start seeing some cash flow on the investment.
What made you interested in investing in this type of deal?
We wanted to start our journey in real estate, but also have a place to vacation.