First investment property ever

[Danushka Abeyasekera]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $294,000
Cash invested: $58,800

This is my first investment property. I bought it for under market value, removated it and airbnbed it

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

Cashflow

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

Redfin and I asked them to lower the price due to the start of the pandemic

How did you finance this deal?

20% down second home

How did you add value to the deal?

I remodeled the kitchen and painted the house

What was the outcome?

I am airbning it for monthly airbnbs

Lessons learned? Challenges?

Las vegas is not a great city for short term rentals anymore since the regulations are extreemly strict and its impossible to get a licence if you do not live there or meet their criteria.

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

Yes, Yun from redfin