Short Term Rental - Arlington

[Dylan F.]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $285,000
Cash invested: $120,000

1st STR that got me hooked in the space. Located near AT&T stadium in the Arlington Entertainment District.

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

The combination of RE, design, & customer service as the key factors in a successful STR business.

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

Off market through my realtor. Not much negotiation, seller had a fair price in mind, and I knew we could cash flow form there.

How did you finance this deal?

20% down + conventional loan @ 4.5%

How did you add value to the deal?

Re-did the backyard & turned the backyard garage shed into a game room. Also re-did the kitchen and fixed up aesthetically.

What was the outcome?

Cash flow from day 1

Lessons learned? Challenges?

Know your numbers going into a deal. Renovations will more-than-likely cost more than expected.

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

N/A