Downtown St Augustine STR

[Mindy Nicol]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $425,000
Cash invested: $140,000

Short term rental

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

Tourist hot spot. Also an area that is gentrifying and improving constantly

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

Driving around the area I wanted to buy in

How did you finance this deal?

DSCR

How did you add value to the deal?

Inspector uncovered major mold issue. Seller paid for removal and reconstruction

What was the outcome?

Issues were handled prior to closing.

Lessons learned? Challenges?

A good inspector is critical

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

I am a real estate agent focusing on investment properties. I work with lenders offering DSCR loans and other investor funding.