Short-term rental - Cary,NC

[Scott Ashworth]

Investment Info:

Single-family residence buy & hold investment in Cary.

Purchase price: $242,250

Just purchased this property (April 2021) - Seller will rent back for $0/month through July 31, 2021. We will do extensive renovation & Rent

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

Location

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

We sent out postcard mailers

How did you finance this deal?

Cash

How did you add value to the deal?

Rearranged floorpan, gave the master bed a larger bathroom, added mud room off carport & kitchen

What was the outcome?

We are using this property as a short-term rental.

Lessons learned? Challenges?

This project led me to begin the hiring of a project manager to manage the renovation side of the business.