First Traveling Nurse Short term rental

[Kevin Hart]

Investment Info:

Condo buy & hold investment in Louisville.

Purchase price: $84,000
Cash invested: $10,000

Bought a 2 bed 2 bath condo from a local wholesaler. Purchased for 84,000 using Hard Money. Renovated the unit for $10,000. Spent another $3,000 furnishing the unit. I list the unit on airbnb, vbro, and furnished finder geared toward traveling nurses. Due to Louisville regulations, this property has a minimum 30 day rental requirement.

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

through a local wholesaler

How did you finance this deal?

I used a local Hard Money Lender for initial purchase and rehab. Then I refinanced with a commercial lender to hold long term.

How did you add value to the deal?

I put about $10,000 of renovation into the property. New paint, flooring, miscellaneous plumbing & electrical repairs, and a deep clean. I then furnished the property.

What was the outcome?

It is rented out on Airbnb. It had its first 30 day booking within 3 days of going live and now is booked through May already.

https://airbnb.com/h/kycondo 

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

Worked with Annex Capital for my hard money loan