Toccoa River Cabin VRBO and AIRbnb property

[Holly Leonard]

Investment Info:

Townhouse buy & hold investment in Suches.

Purchase price: $300,000
Cash invested: $60,000

Short Term Rental Property and Second home for my family. Income Producing and paying down my mortgage as we also get to enjoy going to our cabin! The North Georgia Mountain area is growing at a very fast rate with a high rate of return for investors.

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

We have been wanting a home that we can drive to and spend the weekend to get away and also one that would be a good investment.

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

I found this deal off market through a client.

How did you finance this deal?

I put 20% down on a conventional mortgage.

How did you add value to the deal?

We are redecorting the home with our own tastes and added a new hot tub!

What was the outcome?

The original VRBO price on this home was $190 a night. We raised it to $240. It is a success and our income pays our monthly note plus us earning income on it!

Lessons learned? Challenges?

This is a townhome on the river. So, we had to make sure the property was not in a floodplain. It isn't! But, this took extra work to figure out.

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

I am an agent. I negotiated the deal myself.