Raleigh Townhome Short Term Rental

[Catie Sherry]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $217,000
Cash invested: $45,000

STR in Raleigh.

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

Raleigh is an up and coming area and I go to school at NCSU, so it is close to where I live.

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

We offered over asking price and put 20% down knowing that it was a good area to invest and did not need major improvements.

How did you finance this deal?

Conventional loan.

How did you add value to the deal?

We renovated the kitchen, bathrooms, and light fixtures to make it more modern and higher quality materials.

Lessons learned? Challenges?

Lesson-moving quickly is key.

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

Mary Hodges was our lender from Equity Resources INC, she is great. Allee Harrell was our buyer agent, she's the best. Tell these ladies we sent you!