A Frame short-term rental

[Kyle Branum]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $158,000
Cash invested: $60,000

866ft2 3 bed, 1 bath A-frame house that I’m renovating to use as a short-term rental. I’ve added 100ft2 and a master bath to make it a 3 bed, 2 bath.

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

Love a frame houses, purchase price, and proximity to a successful short-term rental I currently own.

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

MLS. I had to borrow and make a cash offer around 24% over asking because the price was well below anything available in our area. It was underpriced.

How did you finance this deal?

Cash with plans to finance after renovation.

How did you add value to the deal?

Added 100ft2 and a complete makeover.

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

Bjorn White - Keller Williams Greater Downtown Chattanooga