Updated over 4 years ago on . Most recent reply
Short Term Rental Condo in Waterville Valley, NH
Investment Info:
Condo buy & hold investment in Waterville Valley.
Condo - Short Term Rental
2 Bedroom, 1.5 Bath, 815 sqft.
https://www.itrip.net/waterville-valley-vacation-rental/the-danbury
What made you interested in investing in this type of deal?
I liked the cash flow potential of a short term rental, combined with the aspect I could also use it as a vacation spot for my own family. The lower price point/barrier to entry also made it appealing as a first investment property.
How did you find this deal and how did you negotiate it?
Started telling everyone I knew I wanted to buy a vacation condo near a ski mountain in NH. Soon after, friends of ours told us they were going to put their place in Waterville Valley on the market. We agreed on a private sale.
How did you finance this deal?
Conventional 30 year loan, used a HELOC for the down payment.
Lessons learned? Challenges?
Condos have wildly different bylaws and it is important to research what is in them before you pursue one an investment property. Not just fees. Lot's of associations have restrictions on rentals which would severely limit your earning potential/ability to rent at all.
