Single Family Short Term Rental in Fayetteville, NC

[Adrian Barbosa]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $169,000
Cash invested: $12,000

4 bed, 3 bath single family residence located close to Fort Bragg in Fayetteville, NC. Operating as a short term rental since March or 2022.

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

A steady short term rental market in the Fayetteville, NC/Fort Bragg region. With prior experience doing SFR STR's in the area along with partners.

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

Found this deal on the MLS and negotiated leveraging my agents local market understanding & experience.

How did you finance this deal?

Using a VA loan, I was able to close with all in costs just over $2k. I occupied the homes ADU (converted garage, 1Bed/1Bath studio) while the main part of the home operated well as a short term rental.

How did you add value to the deal?

Value was added to this deal through small repairs and mild renovation in the homes studio (ADU) space. Along with furnishing the entire property to become the welcoming short term rental that it is today.

What was the outcome?

The property still operates as a single short term rental. The studio was added to the entire listing when I moved out of the home.

Lessons learned? Challenges?

I learned a lot about setting realistic timelines, and to be conservative doing so in the future. Also how extensive of a process selecting, ordering/purchasing, and furnishing an entire home can be while operating alone.

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

Yes, I'd encourage anyone looking to get started or continuing to invest in the Fayetteville, NC area to reach out. I'd be more than happy to connect others with my rockstar team who made this deal possible!