What a difference a year makes!

[Mark Lee]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $515,000
Cash invested: $147,000

3 bedroom, 2 bath short term rental in the north carolina mountains

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

My wife and I love the north carolina mountains and love the area where we invest.

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

We worked with a realtor to find the listing on the MLS. We negotiated the price with the seller through our agent.

How did you finance this deal?

Second home mortgate.

How did you add value to the deal?

The property is turnkey.

What was the outcome?

The property is listed in Airbnb.

Lessons learned? Challenges?

The sharp rise in interested rates resulted in a much larger down payment than we had originally anticipated. However, we were able to absorb the additional cost, and felt that this would be a great long term investment.

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

Yes! We have worked with the same agent and mortgage broker on two deals now. Both are excellent.