Short Term Rental #2 in South Bend IN

[Amber Layman]

Investment Info:

Single-family residence buy & hold investment in South Bend.

Purchase price: $70,000
Cash invested: $85,000

Short Term Rental
https://www.airbnb.com/rooms/560366563904773536?preview_for_ml=true&source_impression_id=p3_1649289826_W7IZoOYs6Bqua0Eo

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

I have great success with my first STR (located just across the street) and wanted more!

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

I found this deal on Zillow and offered 5k less than LP and it was accepted

How did you finance this deal?

I paid cash for this deal.

How did you add value to the deal?

I painted, changed flooring and light fixtures, tiled and replaced bathroom vanity

What was the outcome?

So far, this STR cashflowed 1k its first month (March 2022)

Lessons learned? Challenges?

I learned that I should not have paid cash, I should have used for several down payments instead