All Forum Posts by: Jenny Perron

I'd like more information on this and details

Lexington is good if it's over 275K they go much easier on you but I personally do the surrounding areas such as the Red River Gorge which has over 600million visitors a year and no issues with STR

 I'm at 11K a month on one, 4,800K a month on one and 5,500 on another and remodeling one now to be put on the market soon

Investment Info:

Single-family residence buy & hold investment in Nashville.

Purchase price: $155,000
Cash invested: $159,000

I offered my client 155,000 for her home that she was considering selling, she said yes. I gutted it and added new drywall, new light fixtures, new bathrooms, new paint, new kitchen, new furniture and new flooring and new windows. I then put it on airbnb to cashflow.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I used real estate broker Jenny Gregory Perron(me) to find me the house. I used Evan at the bank of Lexington to do the lending.. I only say this because the question Bigger Pockets ask above is "did you work with any real estate professionals or lenders?" That is who I used to get this investment property.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $150,000
Cash invested: $100,000

I have rented this for 4 years now I am renovating it for an Airbnb now once on airbnb it will do 10-20K a month

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

I bought it from a client who wanted a fast sale

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

she wanted 200K I offered 155K she said yes

How did you finance this deal?

conventional

How did you add value to the deal?

I rented it out for 4 years now turning it into a airbnb it is now worth 400K

What was the outcome?

cash flow

NIce... wish I had seen this before I have a ton of cash buyers in Lexington

Investment Info:

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

Purchase price: $390,000
Cash invested: $120,000

I purchased a four-plex for $390,000 where each unit was originally rented at $400 per month on a month-to-month basis. Upon acquiring the property, I notified the tenants that they had 150 days to transition to paying $900 per month. One tenant decided to move out, giving me the opportunity to renovate that entire unit for $15,000, which included furnishing it. I transformed this unit into an Airbnb, and it now generates over $2,000 per month. This is particularly impressive given that it’s located in a very small town with only two stoplights. When people express concerns about starting an Airbnb in smaller markets, it genuinely amuses me, as this experience has proven that success is not limited by location.

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

Seller was easy to deal with, tenants were month to month, and the college was within walking distance

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

I cold called the seller and asked

How did you finance this deal?

Pulled equity out of my home

How did you add value to the deal?

Raised the rents, and added one unit as a airbnb

What was the outcome?

income is now 4,500 it was 1200 when I purchased it

Lessons learned? Challenges?

It was a lot more money then expected in the fix-up of the Airbnb

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am a Broker