Short Term Rental Acquisition in Panama City Beach

[Crystal Ball]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $620,000
Cash invested: $72,000

$30k reno on an acquisition we created our own comp on by selling the home next door at $702k. First partnership with my CPA & exactly on budget for the three month reno. Trash out, landscaping, interior paint, deck rebuild, minor repairs, new backsplash, new appliances, all new furniture and kitchen supplies. https://listing.panhandleproductions.net/v2/DNLZRZV/unbranded

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

We are building a portfolio of short term rentals in the 32408 area code. I can't pass up a real deal!

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

It fell out of contract and the listing agent called me since we had made an offer on it. We were able to get it at contract price instead of the $25k over we had offered prior!!

How did you finance this deal?

DSCR loan through Kiava.

How did you add value to the deal?

Trash out, landscaping, interior paint, deck rebuild, minor repairs, new backsplash, new appliances, all new furniture and kitchen supplies.

What was the outcome?

Successfully into our management program...https://www.airbnb.com/rooms/822027067009249019?guests=1&adults=1&s=67&unique_share_id=4489c12d-c164-4a73-b279-eba57eb3f289

Lessons learned? Challenges?

LOCK YOUR RATE!