Updated about 21 hours ago on . Most recent reply
Short Term Rental Investment Property
Investment Info:
Condo other investment in Hersey.
Purchase price: $395,000
Short-term rental purchase on Lake Hamilton in Hot Springs, Arkansas. This is a great unit in a great spot. Hot Springs, Arkansas, has numerous amount of activities to entertain everyone. From Fishing, boating, hiking, and biking in nature, to downtown shopping and bath houses, to the Casinos and Horse Races, you will not be disappointed.
What made you interested in investing in this type of deal?
Short-term Rental wanted to create a cash flow income. Location and the activities in the area made this an attractive purchase.
How did you find this deal and how did you negotiate it?
My Realtor introduced it to me knowing the area and the surrounding town that is growing.
How did you finance this deal?
Cash Purchase - 1031 exchange for a portion of it
How did you add value to the deal?
updated the unit with paint and furnishings.
What was the outcome?
It has been a great STR for me. Ive learned alot and continue to learn more all the time.
Lessons learned? Challenges?
People do not care for your place like you do. Challenges is living a few hours away.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Cindy Roses and Kim Guyor
