BRRRR STR In Mt Washington

[Tyler Herget]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $84,000
Cash invested: $125,000

Short term rental with views in Mt. Washington

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

Views of the city

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

MLS. Negotiated up front and again after inspections.

How did you finance this deal?

Conventional

How did you add value to the deal?

Full gut reno. Two story addition. Excavated exterior property to add off street parking.

What was the outcome?

ARV $250,000+ with $5000+/mo cash flow

Lessons learned? Challenges?

Permits in the city are hard! Took two years to get approved.

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

Worked with a great architect in the city. I'm the real estate agent.