Short Term Rental in Texas

[Jesse Steven Jordan]

Investment Info:

Condo buy & hold investment.

Purchase price: $119,000
Cash invested: $30,000

I purchased this Condo for an STR, I bought it sight unseen ( had an inspection ) we traveled to it about a month after closing, to remodel and furnish. It took about $30K of remodel and furniture. but it is constantly rented and makes between $1200 and $1700 a month pure cash flow ( depending on the length of stays.) We stayed in it while we did the remodel so we found all the little issues.

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

I Airbnb'ed a similar condo in the complex and loved it, then also found STR's were hard to come by in the area

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

With an agent,

How did you finance this deal?

20% down 30 year

How did you add value to the deal?

Paint, Luxury vinyl flooring, drywall repair, automated thermostat, wifi enabled lock for the front door. New furniture and a deep clean.

What was the outcome?

It is doing very well, it is always booked

Lessons learned? Challenges?

build a good team in your area.