Short term rental investment

[Timothy Stark]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $190,900
Cash invested: $62,000

STR in west Texas

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

Higher cash flow than traditional rental

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

MLS- RE agent

How did you finance this deal?

10% down 2nd home loan

How did you add value to the deal?

Fixed windows, big plumbing repair, nice airbnb style furnishings

What was the outcome?

Ive had since 2021 and it is performing well. Should have "all my cash back" at the beginning of year 3.

Lessons learned? Challenges?

Don't trust inspector to check everything. Always get a plumber, HVAC to go out and do a specific inspection prior to purchase. I bought a home with galvanized pipe and had to replace rather quickly. I could have prevented this by having the plumber run a camera down the lines.

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

Joel Richardson loan officer is very helpful. Prime lending.