Hidden Creek Cottage STR

[Alex Abramo]

Investment Info:

Single-family residence other investment in Gilford.

Purchase price: $425,000
Cash invested: $100,000

Nestled between Gunstock Mountain and Lake Winnipesaukee, Hidden Creek Cottage is your perfect year-round getaway. This airy, sun-filled home features high ceilings, a newly updated kitchen, gas fireplace, central air, king size bed, and laundry. Step outside onto a brand new expansive deck built for outdoor dining and entertainment, make your way down to the fire pit for stories and s'mores and enjoy the sunset while listening to the tranquil sounds of our hidden creek.

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

Higher cash-flow with STR's + the ability for my family and I to use it when it isn't being booked.

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

The deal was on MLS, had a local agent see the property, we loved the location and were willing to pay over asking.

How did you finance this deal?

80% LTV - 2nd home loan (30-yr fixed).

How did you add value to the deal?

We painted inside, we painted outside and built a brand new deck, retaining wall, and path between driveway and front door.

Lessons learned? Challenges?

Finding the correct price mix is tricky! And most of our cashflow this year has already gone right back into the property (new heating/cooling system, updated septic alarm, etc).