STR in Abq NE Heights

[Shane Dolinski]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $125,000

This was my grandma's home. She moved in with my parents s she is getting older. I did an Estate Sale, completely remodeled it and now it is a short/medium term rental

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

We want to keep the home in the family and make it turn a profit. My brother and I purchased from my parents/grandma on a Real Estate Contract

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

Family deal. My Gma moved in with my parents and we wanted to buy her home, remodel it and rent it

How did you finance this deal?

Real Estate Contract

How did you add value to the deal?

Comnplete remodel of interior, tear down walls, remodel kitchen completely, new flooring throughout. Furnished it completely.

What was the outcome?

>80% annual occupancy as a Short term Rental and Mid Term Rental. Doing very well!

Lessons learned? Challenges?

Communication is very important every step of the way esp. with partners. Family even more so, but with this communication we are/were able to fin a goo place for us to make money and build equity

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

None