Another St Augustine Florida success

[Richard Scott Dinnan]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $320,000
Cash invested: $80,000

This is a single family STR on Airbnb. It is next door to the other property allowing for easy turn over and maintenance logistics. This property is comparable in price and cash flow however it accommodates more guests staying at once.

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

Proven test case, Next door, similar investment scheme, ease of use/maintenance.

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

Was next to my other STR

How did you finance this deal?

Financing

How did you add value to the deal?

Made offer prior to the seller and realtor being ready. Pushed for a quick close.

What was the outcome?

Appraised for 20k higher than contracted price. Does just as well as the other STR

Lessons learned? Challenges?

Ensure that the juice is worth the squeeze. Although the property is comparable to the other STR the realized cash flow and appreciation on the other STR next door lended valuable info that allowed me to pursue a deal that would otherwise seem risky to a subjective buyer.

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

Scott Dustin