Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago,

User Stats

11
Posts
4
Votes
Robert Karnes
  • Investor
  • Czar WV
4
Votes |
11
Posts

Unterwalden Riverfront Cabin

Robert Karnes
  • Investor
  • Czar WV
Posted

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $90,000
Cash invested: $90,000

Short Term Rental in a mountain community.
https://airbnb.com/h/unterwalden-riverfront-cabin

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

I like the rural mountains of West Virginia. Helvetia in particular is an area settled by Swiss and German immigrants and retains much of that character.

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

I originally purchased the property as a place to build a family retreat. The seller believed they had a 5 acre property and their asking price was high for that acreage. After a brief discussion I realized based on their description that the property was much larger. It turned out to be 13 acres and includes 2000 feet of river front on a native trout stream.

How did you finance this deal?

Cash.

How did you add value to the deal?

I had Amish builders build 3 cabin shells which I finished out over a few years.

What was the outcome?

My build cost was about $90,000 per cabin, I currently live in 1, have a long-term tenant in one and have the 3rd as an STR. The STR does about $35,000 per year gross.
We have a 5 Star Super Host rating on AirBnB and are Premier Hosts on VRBO.

Loading replies...