Oak Island, North Carolina Beach House Renovation turned STR.

[Katie Rother]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $205,000
Cash invested: $50,000
Sale price: $315,000

Oak Island, North Carolina Beach House Renovation turned Short Term Rental. This property was all in, buying a second home away from home and turning it into one of the most popular short term rentals on the island 2 years in a row, before selling as a successful business in 2020.

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

The BEACH!

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

Searching the internet for a property that had been sitting and recently had a price drop.

How did you finance this deal?

2nd Home Financing

How did you add value to the deal?

Rehabbed the whole property, electric, plumbing, installed new ducting. Creating a bright, open space for people to enjoy at the beach.

What was the outcome?

Successful Short Term Rental!

Lessons learned? Challenges?

It takes more money and time than you think. You should always take breaks and eat. If something isnt working, take a break and come back to it, sometimes you just need some time away to think about what is making it so complicated and a break gets your mind right to complete that particular task.