Beach House/ Short Term Rental / First Investment Property

[Ty Conley]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $553,000
Cash invested: $15,000

Beach House/STR

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

I wanted to give Short Term Rental a Try

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

A friend told me someone they know might be interested in selling. After months of back and forth and negotiating we settled on a price.

How did you finance this deal?

HELOC for the down payment and an investment loan

How did you add value to the deal?

Bought the house and gutted it and put in new flooring, pain, decor

What was the outcome?

We will see

Lessons learned? Challenges?

Having a STR is basically another job but worth it so far!

[Myrtle Mike Thompson]

@Ty Conley congrats on your property!  I'm curious what city it's located in.  And how did you secure the financing?  Was the $15k your down payment or is that what you paid for renovations?