First investment first STR
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $205,000
Cash invested: $45,000
Started as STR now MTR for digital nomads and visitors or sailors at nearby base.
What made you interested in investing in this type of deal?
It was in a private community beach and I thought STR would be easy.
How did you find this deal and how did you negotiate it?
Realtor.com and my realtor set it up. I just bought it like any regular house. I’m new but then I was super new. So many lessons learned!
How did you finance this deal?
Myself with my savings for down payment and a mortgage
How did you add value to the deal?
It was already renovated. I added a fire pit, picnic table and cornhole game. I hired a company to furnish and decorate.
What was the outcome?
It has been renting year round. It was renting almost year round with STR but that was so much more work.
Lessons learned? Challenges?
Hard to find a team in that area for either cleaning, repairs, lawn care.
