Short-term rental in Round Rock just north of Austin

[Sheila Smith Oliver]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $275,000
Cash invested: $15,000

Short-term rental

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

Nice area near attractions such as Dell, Ole Town Round Rock, Kalahari Resort, and close to Austin.

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

Wholesaler with multiple investors interested. Was able to negotiate from $290k to $275k.

How did you finance this deal?

Hard money to DSCR 30 yr fixed loan

How did you add value to the deal?

New flooring, paint, fixtures, appliances, and removed popcorn ceiling. Landscaping and fire pit.

What was the outcome?

Renting well on AirBnB

Lessons learned? Challenges?

Learning how to stage more quickly. Vacasa did nothing with the property in 30 days. Switched to a local host and had it rented in first 2 days on Airbnb.

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

Easy Street and Networth