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Updated about 2 years ago,
Cleveland Park SFH w/ DADU
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $850,000
Single Family home with a DADU in the downtown Nashville core (Cleveland Park) area. I used a VA loan to purchase the home. Currently doing an STR house hack by living in the DADU and renting out the main house.
https://www.airbnb.com/rooms/694929573321113559?adults=1&children=0&infants=0&check_in=2023-04-09&check_out=2023-04-16&federated_search_id=71c4ca40-a6fb-4284-a8b6-81316174c102&source_impression_id=p3_1660920258_pbqK33rLbXJmxxFi
What made you interested in investing in this type of deal?
Cashflow and legacy growth!
How did you find this deal and how did you negotiate it?
Found it through my realtor as an off market deal.
How did you finance this deal?
VA loan
How did you add value to the deal?
Invested in a designer to decorate the airbnb and build an extension to the deck to accommodate a stock tank pool.
What was the outcome?
Airbnb is currently covering the mortgage as we're going into the low season. Can't wait to make some big bounds come spring/summer!
Lessons learned? Challenges?
Higher cash reserves and plan for a longer lead time for decorating.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes! Kristen Kosch (realtor).