Historic downtown single family long term rental

[Michael Harris]

Investment Info:

Single-family residence buy & hold investment.

Cash invested: $10,000

Single family residence in Downtown Flagstaff, Arizona. I used it for a short time as an STR but it proved to be just as good if not better as a long term rental. Looking to scale from here either by selling or HELOC.

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

Family owned and passed down

How did you finance this deal?

NA

How did you add value to the deal?

Interior and exterior upgrades.

What was the outcome?

Continued long term rental.

Lessons learned? Challenges?

Initially ran as short term rental with little knowledge on how to properly run an STR.