Short Term Vacation Rental

[Manny Del Val]

Investment Info:

Condo buy & hold investment in Jensen Beach.

Purchase price: $225,000
Cash invested: $45,000

Short Term Vacation Rental that is rented 6 month out of the year right on the beach in Jensen Beach

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

The ROI on this is incredible this property has already appraised to over $350K in little over a year. There was a similar unit that sold for $399K and I am also getting Cash Flow as its paying for itself and leaving me some extra money and I get to enjoy the beach also. Its a win win win situation.

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

Deal was found on the MLS during the start of the pandemic. People where selling and I was able to negotiate a cash deal on this and lowered the price some 15k From asking.

How did you finance this deal?

I used my IRA to pay for it Cash and then did a 60 day rollover to not be hit by any tax penalties.

How did you add value to the deal?

We updated the Kitchen, Bathrooms and Bedrooms with some new fixtures and accent walls

What was the outcome?

Great Short Term Rental Property

Lessons learned? Challenges?

I would look at restrictions for rentals more closely and get a better idea on these from the HOA. The 30 day minimum rental does restrict my AirBNB type clients as usually they want a week and a 30 day minimum is tough.

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

I recommend myself I am an agent and would love to help anyone that needs it.