Epic Villa and Guest House Short Term Rental
Investment Info:
Single-family residence buy & hold investment in Unm.
Purchase price: $900,000
Cash invested: $200,000
Bought a villa with a guest house that is being rented on various short-term rental websites, and is also making a bit of income through weddings and Netflix after parties.
What made you interested in investing in this type of deal?
The numbers - higher risk, but with a much higher return.
How did you find this deal and how did you negotiate it?
MLS - Long time on market which gave me the leverage to get it furnished - the paintings were especially important for the "feel."
How did you finance this deal?
Private Money Bank
How did you add value to the deal?
Updating Bathrooms and turning sitting rooms into bedrooms.
What was the outcome?
Still new, but I will update this post as time goes on.
Lessons learned? Challenges?
The obvious that the more expensive and extravagant the property the more cash you need to be prepared to spend in getting everything ready to go.
