Our first STR - rehabbed and rented!

[Amy Greenwood]

Investment Info:

Single-family residence buy & hold investment in Mentor.

Purchase price: $69,000
Cash invested: $100,000

*Total and complete renovation in 2022
*Upscale contemporary decor
*Fully equipped kitchen
*Beach access just 4 minutes away (Headlands Beach State Park)
*Peaceful and semi-secluded location
*Private outdoor space
*Remote workstation with Wi-Fi
*Linenspa mattresses on both king-size beds
*Allergy sensitive with no down, feathers, or installed carpet

Our Headlands Beach Cottage Renovated from the Ground Up
After an extensive restoration project, we are thrilled to present Headlands Beach Cottage. Every inch of this property has been lovingly and thoughtfully restored to deliver an experience of upscale casual elegance.
https://www.entrustpropco.com/

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

The location seemed ideal for a short-term rental.

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

Our lawyer called us with the deal. It was FSBO one of his probate clients. We spoke with the owners for a couple hours to get an idea of what they needed in order to cover their debt as well as walk away with a little money in their pocket, and that's what we offered. They were very pleased.

How did you finance this deal?

Investor partner.

How did you add value to the deal?

Added another bathroom.

What was the outcome?

Cash-flowing even better than expected!