My First Investment Property! :)
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $229,000
Cash invested: $7,000
Vacation rental home in the Florida Panhandle, 3 STR, 3 bed 2.5 bath, sleeps 10. Seasonal cashflow, but ROI potential is great!
What made you interested in investing in this type of deal?
It was brought to my attention from a fellow REI Matt Gardner
How did you find this deal and how did you negotiate it?
My realtor brought it to me and there was little negotiating needed
How did you add value to the deal?
We remodeled the bathroom with fresh cabinet paint, updated fixtures throughout the home and have more plans to remodel the kitchen and all the flooring.
Lessons learned? Challenges?
Establishing hard house rules for tenants and dealing with unexpected fixes/problems while updating. While there is some hassle, the ROI from dealing with these problems makes it worth it!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Matt Gardner and Cassie Brewster!
Most Popular Reply
@Charles Wisniewski Congrats on getting started!