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Updated almost 3 years ago on . Most recent reply
- Real Estate Broker
- Memphis, TN
- 842
- Votes |
- 1,419
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Brand new home built for short-term rental in Memphis, TN
Investment Info:
Single-family residence other investment.
Purchase price: $30,000
Cash invested: $186,000
Sale price: $251,500
Brand new home built to rent in Memphis, TN. This home was built from conception as a rental and is now a short-term rental cash flowing BIG BUCKS! 4 bedrooms 2 full baths and furnished to sleep up to 12 people this one is booked for the next 60+ days.
What made you interested in investing in this type of deal?
The need for this type of product in my market.
How did you find this deal and how did you negotiate it?
I bought the land from a wholesaler.
How did you finance this deal?
Cash.
How did you add value to the deal?
Building the home.
What was the outcome?
Over budget but still a GREAT outcome.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am a real estate investment broker in TN & MS
- James Wachob