The Rockaway Cabin. My first investment!
Investment Info:
Single-family residence private money loan investment in Rockaway Bch.
Purchase price: $40,000
Cash invested: $21,000
small beach cabin in rockaway beach in very bad shape. still under remodel learning a lot. looking for my next project.
What made you interested in investing in this type of deal?
The opportunity to get in at a low price in a great market.
How did you find this deal and how did you negotiate it?
Family owned. had been run down and not used for 10 years. fell into disrepair.
How did you finance this deal?
Cash/ owner finance.
What was the outcome?
Vacation rental.
Lessons learned? Challenges?
Once you start down the road of permits there is no going back. everything must be gone through.