Fix and flip turned into a long term hold and cash cow.
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $85,000
Cash invested: $20,000
Airbnb, 4 bedroom 2.5 bath on 4 acres. Amazing retreat. Stays booked. Market valued at $279,000.
What made you interested in investing in this type of deal?
The price and value. Area is a know vacation heaven.
How did you find this deal and how did you negotiate it?
Facebook marketplace. People do trades in this area.
How did you finance this deal?
Personal credit.
How did you add value to the deal?
Upgraded the interior, furnished property for comfort.
What was the outcome?
Property stays booked. Its a great value for travelers and vacationers.
Lessons learned? Challenges?
Always think outside of the box. Use local resources.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No, I had experience.