Updated 3 months ago on .
Summer Fun Haven! Airbnb
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $40,000
Cash invested: $50,000
Great side income for my former family home!
What made you interested in investing in this type of deal?
It was a great investment and had room for value add.
How did you find this deal and how did you negotiate it?
This property was owned by an elderly person who had passed, and we offered to purchase it as is from the members of the family so they would not need to coordinate rehabbing prior to being able to list it for sale. They had agreed to the sale price of $40K.
How did you finance this deal?
Bank loan
How did you add value to the deal?
Put on an addition with a primary bedroom & private 3/4 bath and also a large family bathroom, insulation, drywall, flooring, windows, privacy fence, tore down dilapidated garage. Poured a new concrete front porch, added a deck off of the back of the house.
What was the outcome?
It has been a cash flowing STR for the last 7 years.
