First Short Term Rental!

[Samuel Koch]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $189,000
Cash invested: $60,000

I purchased a single-family home, owner-occupied, and renovated while I lived there. I am preparing the house to be an Airbnb by the Bay. This is the biggest reno project I have done to date. Very excited to see how things turn out. Going live 2023!

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

IMO, short term rentals are the most profitable option for approved residential real estate.

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

I am Realtor in this area and search for deals 5 days a week.

How did you finance this deal?

Conventional loan

How did you add value to the deal?

I converted the floorplan into a more functional layout and updated everything. I mean EVERYTHING.

What was the outcome?

This is an ongoing project. I am finalizing my STR license and furnishing the property to launch in 2023!

Lessons learned? Challenges?

Renovations take longer and cost more than you plan initially. Being flexible to stay in budget is crucial.

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

Can I recommend myself? I assist investors and V.A. buyers all over the country. I represented myself through this transaction process and have managed everything myself.