Short-Term Rental Cabin in Broken Bow, OK

[Melissa Allen]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $635,000
Cash invested: $85,000

Cabin short-term rental

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

Listening to Luke and Avery Carl from the Short Term Show and Bigger Pockets podcasts helped us decide this path.

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

We used a realtor well-acquainted with short-term rentals in that area.

How did you finance this deal?

We used a conventional loan from our bank, using the income from our W2s.

What was the outcome?

Rental income is doing well. Tax advantages have made it a solid choice.

Lessons learned? Challenges?

I absolutely love serving as a vacation rental host. People frequently ask for recommendations for kids’ activities, etc. and I’m able to give our favorites.

As for challenges, we expected a slow start so it wasn’t a surprise. Made sure we had solid reserves and weren’t getting in over our heads. Certain months of the year it only books on the weekends.

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

Cathy Craig was our real estate agent in Broken Bow. Very helpful.