Vacation Rental in St Augustine FL

[Richard Scott Dinnan]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $241,000
Cash invested: $60,000

Restored 1940s bungalow just off of King St in St Augustine.

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

Pursuing a larger portfolio in the St Augustine and Pigeon Forge areas.

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

I have a good realtor in both areas.

How did you add value to the deal?

Restored the house and gave it "rental appraisal value" as it was not used as a rental ever before.

What was the outcome?

A high CAP vacation rental with a large amount of up front equity earned.

Lessons learned? Challenges?

St Augustine is tricky to manage remotely. Securing the right logistics prior to buying is something important.