Updated over 4 years ago on . Most recent reply
Converted an Existing Retreat Center to Vacation Rental Homes
Investment Info:
Large multi-family (5+ units) commercial investment investment in Waynesboro.
Purchase price: $775,000
Cash invested: $775,000
Vast property on Blue Ridge Summit, less than a mile to the Appalachian Trail, with beautiful views! Open lawn and wooded acreage, chapel, in-ground pool, basketball court, 3 smaller residences, and 2 large residence/dormitory buildings with kitchen, dining, meeting, and recreation facilities! Usable for multiple groups when desired as buildings are self-contained and of multiple occupancy. Perfect as a Retreat Center, Camp Complex, Event Center, etc. Complete Campus with caretaker quarters, etc
What made you interested in investing in this type of deal?
I was looking for a property which can generate steady income.
How did you find this deal and how did you negotiate it?
Loop.net
How did you finance this deal?
Cash
How did you add value to the deal?
It took me one year to make it ready, get approval from township, and finally now it's generating good amount of ROI.
