Short Term Rental with Detached Guest house

[Cynthia Mermoz]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $327,000
Cash invested: $65,400

3B 2B Home with a detached 1B 1B guest house

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

Cash Flow Opportunity

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

This was originally purchased as our primary Residence. We were able to house hack by renting the guest house while we lived in the main home.

How did you finance this deal?

Conventional loan

How did you add value to the deal?

We repaired to pool, added a fence, and improve the landscape.

What was the outcome?

We lived in the main home for the first year while we rented the guest house. LOCATION was key as we noticed a lot of people visiting the area and the potential to rent the main home. We have both homes listed on Airbnb. We are able to offer both homes and offer pool, a fire pit, and beautiful backyard space to all of our guests. This home is a keeper!

Lessons learned? Challenges?

Invest some money to improve the home, it is worth it!

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

I represented ourselves on this deal. I am a licensed Realtor in the state of GA