Summer and College Rental

[Tyler Rowley]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Narragansett.

Purchase price: $520,000
Cash invested: $212,000

Great two family home in Bonnet Shores neighborhood in Narragansett RI. Fixed it up and doing really well on airbnb for college end summer rentals.

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

Rental income.

How did you find this deal and how did you negotiate it?

Zillow

How did you finance this deal?

Bank

How did you add value to the deal?

Revamped the exterior for summer vacationers

What was the outcome?

Sold out for summer rentals and the college year with URI students

Lessons learned? Challenges?

Do it again

[Matthew Richie]

Tyler,

How is this rental going for you? I’d like to do something similar and haven’t heard much about people mixing college and short-term rentals. Any recommended resources?

Thanks for your time!