First Short Term Rental Property

[Latunya Smith]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $190,000
Cash invested: $35,000

We purchased our first hold! It was move in ready (3/2, bonus rm, two car garage) needed just a few cosmetics, furnished it, and have travel nurses residing in the property. Time for another!

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

I knew the ARV and it is close to my personal residence, so made sense to us as first investment.

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

Knew the owner, easy negotiating.

How did you finance this deal?

It is in close proximity my home.

How did you add value to the deal?

Did not request any repairs. Home was in pretty good shape.

What was the outcome?

It is mine:)

Lessons learned? Challenges?

I think it went well. Would do it again.

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

Movement Mortgage as lender. I am an agent-represented self.