SHORT TERM BEACH RENTAL

[Chris Cormack]

Investment Info:

Single-family residence buy & hold investment.

Cash invested: $100,000

Renovating back cottage to put into short term Jax Beach rental portfolio. Front cottage already in VRBO and profitable for years.

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

I enjoy renovating and setting up short term beach rentals.

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

I have owned the property for 30 years.

How did you finance this deal?

Cash

How did you add value to the deal?

Total gut and rebuild with 2 bedrooms and 2 baths, this back cottage will rent out with a 4 night minimum through VRBO. It will rent separate or together with the front “WHALE COTTAGE” a 1 bedroom, 1bath cottage.

Lessons learned? Challenges?

Prices of materials really went up over the past year! Working with the city building dept was a biggest challenge.

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

I am a real estate agent and have worked in the industry for 30+ years.