My STR Investment in the Poconos

[Mike Eichler]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $246,500
Cash invested: $40,000

bought this home as an STR investment spent 12k on the downpayment, 11k in closing costs 8k on furniture and some more on miscellaneous items to get to 40k, The home now cashflows over $1700 per month as an STR

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

Numbers worked and just made sense to buy

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

MLS and Zillow; was the agent on the buying side for myself

How did you finance this deal?

5% downpayment first time home buyer

How did you add value to the deal?

Furniture, backyard makeover, Fire Listing pictures

What was the outcome?

$1700 per month in cashflow

Lessons learned? Challenges?

It takes longer than expected to get an STR property up and running.

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

Myself as the agent :) Highly recommend me (haha)