vacation home turned into long term rental

[Jeremy Hester]

Investment Info:

Single-family residence buy & hold investment in Panama City Beach.

Purchase price: $235,000

Vacation home that we turned into a long term rental.

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

We were not going to rent it out but Hurricane Micheal came through and displaced a lot of people. We wanted to help in some way so we offered our vacation home up to a couple of people to share for a month. We were asked if we would rent it to one of the couples and we decided to see how it goes. so far so good.

[Melissa Jolley]

@Jeremy Hester That is great! The rental situation is nuts here. I spoke to my lender and she is backlogged just getting pre-approvals out to people who couldn't find rentals. Rates are low and people are buying.