All Forum Posts by: Kelsey Ardoin

Quote from @Steven Foster Wilson:

Quote from @Kelsey Ardoin:

Quote from @Steven Foster Wilson:

Quote from @Kelsey Ardoin:

We rebuilt the front and back deck, replaced the hot tub cover/added a flipper, added more patio furniture, replaced the ugly flooring (cheap wood laminate/linoleum in bathrooms) downstairs, redecorated the entire inside, changed out dated light fixtures/fans, added small furniture pieces and decor to make it feel welcoming, added arcade games, purchased books/games/art, and adding a cabin name sign at street/on house.  

I'm sure there was more, but that's what's coming to mind. 

 Wow! That is significant changes. 

It really was! And now my husband is informing me that I left off that we rebuilt the plumbing under the kitchen sink, cleared up our view of Bluff Mountain, added a firepit, regraded the driveway, and added 28 tons of gravel to our 350' driveway. 

 Great job Kelsey! I am assuming you did that all yourselves? My wife and I did our first 2 properties together and it is a lot of work and time but it was fun being able to do it together. We look back at the pictures and just laugh. Then we were on the verge of crying. But it was all worth it in the end. 

For the most part, yes. We didn't install floors, regrade driveway, or trim trees ourselves. Hired some help with the deck due to limited time but my husband was the GC for the deck rebuild. 

I can 100% relate. My husband went back for a week by himself (well, M-F because you gotta keep those weekend dollars flowing), and he sent a picture of our game room with our artwork hung and our arcade games installed - the finishing touches on our yearlong vision for the house - and I nearly shed a happy tear I was so proud. 

And congrats on your two projects! It's awesome to see the transformation. 

Quote from @Steven Foster Wilson:

Quote from @Kelsey Ardoin:

We rebuilt the front and back deck, replaced the hot tub cover/added a flipper, added more patio furniture, replaced the ugly flooring (cheap wood laminate/linoleum in bathrooms) downstairs, redecorated the entire inside, changed out dated light fixtures/fans, added small furniture pieces and decor to make it feel welcoming, added arcade games, purchased books/games/art, and adding a cabin name sign at street/on house.  

I'm sure there was more, but that's what's coming to mind. 

 Wow! That is significant changes. 

It really was! And now my husband is informing me that I left off that we rebuilt the plumbing under the kitchen sink, cleared up our view of Bluff Mountain, added a firepit, regraded the driveway, and added 28 tons of gravel to our 350' driveway. 

Quote from @Joel Case:

@Kelsey Ardoin picture number 31 talks about it being a beach house, I believe this picture may be on the wrong listing. 

Hah! Good looking out. I catch errors like this all the time in other people's business posts etc and always reach out. 

Removing that and putting it on our Crystal Beach, TX listing where it belongs. Fresh eyes are so important!

We rebuilt the front and back deck, replaced the hot tub cover/added a flipper, added more patio furniture, replaced the ugly flooring (cheap wood laminate/linoleum in bathrooms) downstairs, redecorated the entire inside, changed out dated light fixtures/fans, added small furniture pieces and decor to make it feel welcoming, added arcade games, purchased books/games/art, and adding a cabin name sign at street/on house.  

I'm sure there was more, but that's what's coming to mind. 

Hi Kevin, thank you! The cabin has been cash-flowing well, but the competition brings their A game in the Smokies. When we bought in October, we visited for a week to get it from grandma to what we later realized was basic, rentable status (nice enough). It looked so much better than it did when we started, but it really needed more to make it stand out. We went back over the summer in July and made some significant improvements, so I think we'll really start to see how great it can be as we roll into fall (leafer peepers is a thing) and the holidays. 

We are currently restricted from building an additional house, but I think we could get it approved by our HOA. Most lots are more normal sized, and then there's ours and a handful of others that have acreage. I feel like the additional house rule is more meant for the smaller properties. Got ideas? Our property is getting re-photographed next week, so a lot of the pictures don't reflect our updates as of right now.

https://www.airbnb.com/rooms/5... 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $531,000
Cash invested: $60,000

Purchased as a fully-furnished, fully-decorated beach house in Crystal Beach

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

Nearly turn key, beachside, and in my favorite neighborhood in Crystal Beach.

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

My client decided not to buy the house, so I did.

How did you finance this deal?

Conventional 10% second home loan. Yes, you can have more than one second home. They just have to be in different markets, and more than 50ish miles from your primary.

How did you add value to the deal?

It was a secondary vacation home, and it is now a STR. It has a converted fourth bedroom that wasn't 100% complete. We have finished out that space to increase occupancy from 10 to 14, sleeping 14 people comfortably (not on couches).

What was the outcome?

It's a money maker!

Lessons learned? Challenges?

If you're going to use the Schlage Encode in a coastal climate, add a homemade gasket to inside and outside of lock to prevent condensation that ruins the electronics.

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

Yes, me!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $620,000
Cash invested: $82,000

Self-managed STR cabin on 6 acres 15 min west of Pigeon Forge, TN

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

High ROI, enabling us to scale more quickly than with SFH LTR's.

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

I was a client of the Short Term Shop before I was an agent with the STS. I purchased with a STS agent licensed in TN. I bought at the height of the market, but this house was poorly marketed -- bad pictures and listed in wrong MLS by out-of-area agent -- so it was only on secondary websites like Realtor.com but not in the MLS where everyone was looking. Offered $20k under ask and negotiated down another $6k for roof repairs.

How did you finance this deal?

Conventional 10% down second home loan (plus a bit extra DP to keep it under the jumbo loan limits)

How did you add value to the deal?

We've taken it from a grandma cabin to a gorgeous, private retreat by refurnishing, redecorating, and renovating the house.

Lessons learned? Challenges?

"Fully furnished" isn't necessarily a good thing.

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

The Short Term Shop