Sanford NC STR

[Catie Sherry]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $158,000
Cash invested: $15,000

This is a 2 bed/2 bath short term rental in the Carolina Trace community of Sanford! It does quite well bringing in people who are here for golfing (leisure/tournaments), visiting family, and buying/building new homes! We invested with a partner so she brought the down payment and we pay for furnishing. We manage and she is a "silent" investor. It's working great! Cash flow varies per month. Summers are hot!

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

It was an off market property of a neighbor. She did not want to pay realtor fees so I brokered the deal myself!

How did you finance this deal?

We worked with a partner who had the cash for the down payment and was able to put the loan in her name.

How did you add value to the deal?

We upgraded the living room with built ins, painted the entire interior, changed all light fixtures, updated the bathroom vanities and toilets, and added furnishings.

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

Just me! Now I am a licensed real estate agent and would be happy to help anyone with their next deal in Sanford, NC, Raleigh, and surrounding areas.