Starke Airbnb Lake Sampson

[Jenna Bamlet]

Investment Info:

Single-family residence buy & hold investment.

This property was purchased, renovated and now an Airbnb

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

The property is out of the way of normal traffic, slightly off grid, but right on lake Sampson. There is a canal right to the property. Easy access to take the kayak or raft out. Plus it's quiet. Makes for a peaceful get away.

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

I believe this property was found on Zillow but honestly no sure. In the negotiation there were seller concessions added to the purchase price but to go towards closing cost.

How did you finance this deal?

This deal was done using a hard money lender... think 911xpress loans is like a third party who finds lenders but doesn't want their clients to know. The loan is not through 911xpress loans, and I would NOT recommend using them.

How did you add value to the deal?

A lot of trees where removed, everything that needed to renovated was. Almost all new flooring through out. There is a zip line that was added, fenced in the property the rest of the way, etc.

What was the outcome?

Outcome is a profitable airbnb

Lessons learned? Challenges?

Make sure your lenders give you all the fees upfront and know if certain fees have to be paid at closing and can't be wrapped into the loan. Careful who you do business with, businesses can ruin friendships. Challenges, not having access to better equipment. Double sometimes triple projected job completions.