Walton Way Vacation Rental

[Tom LeVieux]

Investment Info:

Single-family residence buy & hold investment in Tampa.

Purchase price: $300,000
Cash invested: $60,000

Bought home as a renovation and holding as a vacation rental.

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

At the time I managed several STR in the area, Found this home off market and the numbers made sense

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

Word of mouth, Found out they had an offer market offer at $280,000 so I offered $300,000 to sign contract immediately

How did you finance this deal?

FHA

How did you add value to the deal?

I allowed seller (elderly) as much time as he needed to move out. Ended up being three months, we closed when he was ready. I also offered to discard of anything he didn't take with him

What was the outcome?

Singed contract instantly

Lessons learned? Challenges?

Prepare yourself now so your ready when the right deal comes along

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

I am a real estate agent and property manger. So just me