First Out of State Investment

[Jonathan Avellaneda]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $425,000

First out of state investment. Purchased as a STR in Myrtle Beach.

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

STR in Myrtle Beach. We chose this to target larger groups staying in the area.

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

MLS, Realtor

How did you finance this deal?

Conventional

How did you add value to the deal?

Design of interior and amenities for STR.

What was the outcome?

Going really well to date.

Lessons learned? Challenges?

Seasonality. This location has completely different seasonality than my state/first investment. Learning how to deal with that.

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

Yes! My realtor was Shawn Robey at Realty One Group Dockside was amazing. He helped me from start to finish from out of state! I would highly recommend him in the Myrtle Beach area.