Primary Residence to eventually become STR

[Richard Morrison]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $373,000
Cash invested: $75,000

Currently primary residence. Will eventually become STR that w/bikes & golf cart (6 min ride from beach)

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

Originally looking for primary residence

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

I'm an agent, and found it on the MLS. Went on market late Thursday night, I messaged agent that night, and had a showing at 12pm the next day. Had an offer in by 2pm Fri., and the offer was accepted on Saturday.

How did you finance this deal?

Conventional loan, 30-yr @ 3.25% and 15% down

How did you add value to the deal?

Fixed drainage issues (drain ditch, gutters, etc.), new landscaping in backyard, painted entire interior, renovated master bathroom, renovated kitchen (took out wall for open-concept) with new countertops/paint.