Foothills Primary Residence w/ Guest House
Investment Info:
Single-family residence buy & hold investment in Yuma.
Purchase price: $360,000
Cash invested: $30,000
Primary residence purchased with a VA loan
What made you interested in investing in this type of deal?
This was a new build that was used as the builders model home. The property was a 3br/2 ba house with two car and RV garage. The property included an option for a guest house. I scoured my new duty assignment for a home with guest house.
How did you find this deal and how did you negotiate it?
This was the model home that my realtor introduced me to.
How did you finance this deal?
VA Loan
How did you add value to the deal?
Back yard landscaping, numerous smart home feature, standalone AC unit for the guest house.
What was the outcome?
I used the guest house for short term rentals during my entire tour in Yuma. I never cash flowed, but the property almost paid the entire mortage. I have since moved and now rent the house out to another military family for a small cash flow.
Lessons learned? Challenges?
Self managing an Airbnb really cut into vacation time when I first arrived. It is really hard to forget about short term guests living in your guest house.