First time investor is BLESSED!

[Philip Lucy]

Investment Info:

Single-family residence buy & hold investment in Murphy.

Purchase price: $250,100
Cash invested: $55,575

Goldyloks' Cottage - Short Term Rental Cabin in the Smokey Mountains of Murphy, NC.

https://evolve.com/vacation-rentals/us/nc/murphy/457231?startDate=20220128&endDate=20220130&queryID=2fc5d3c0780961bdae9ef044f1b158cc

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

Planning to retire to the area in 5-7 years. This property was perfect to get a head start. Bought it on first site, fully furnished...a turn-key STR. Occupancy has been great!

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

Realty.com
Was on the market 5 hours before we looked at it and made an offer. Ended up in a multiple offer situation and were blessed!

How did you finance this deal?

20% down w/Conventional Mortgage

Lessons learned? Challenges?

I want to do it again...but with less money out of pocket. :-)

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

YES! Kelly Hopkins in Murphy, NC

[Ryan Benedict]

Hi Philip,

I am Ryan Benedict, I am curious on how your STR is doing in Murphy,Nc me and my wife are looking to invest in a vacation home, and in my searching I stumbled on Murphy, Nc I was curious on how the market there was doing. I notice you haven't had for a very long time was just curious on the numbers you've seen so far.

I had originally been looking around the Maggie Valley, Nc area because we travel there once a year already when I stumbled on murphy and see a lot of developing cabins there. thank you so much for your time!