South Florida Cash Cow we created from a 3 BR Home with a garage.

[Malico Watson]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $410,000
Cash invested: $110,000

This property is currently an Airbnb Collecting about $7,900 per month. We turned a 3 bedroom home into a 7 Bedroom (room) 4 Bathroom mid term and short term rental property. We currently placed this property into a trust

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

The returns are super aggressive in an economy where people are getting used to renting bedrooms in homes.

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

I found it on MLS and negotiated the deal for my investor/partner. It was a decent price. We saw the potential..

How did you finance this deal?

My partner used a conventional loan

How did you add value to the deal?

We created 3 extra rooms and bathrooms and we turned the garage into a studio.

What was the outcome?

It is a great outcome. We created value and have a cash cow and now we will probably be flipping it to another investor.