Investment Info:

Single-family residence buy & hold investment.

Purchase price: $420,000

Bought this new construction Single Family Home fully furnished and turned it into AirBNB. It is not currently cash flowing due to the low down payment and the high interest rate, but bought it for appreciation, amortization and Tax savings. eventually it will cash flow and i will be able to benefit from that 4th dimension.

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

I liked this deal because of its close location to Duke Hospital, Duke University and to Downtown. it is in one of the safest neighborhoods in Central Durham. I liked that it is new construction so i don't have to worry about maintenance. Also i liked that it is 2 ensuite bedrooms which is perfect for Nurses, Digital Nomads and Corporate rentals.

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

I found it on Zillow but then sent my agent to take videos, pics and to have her tell me her thoughts. then i negotiated the price and reduced it by 20k and included the furniture.

How did you finance this deal?

i got a mortgage

How did you add value to the deal?

Not much other than listing it on Airbnb and managing it remotely

What was the outcome?

so far so good, i am getting 65% occupancy rate and am paying the fixed expenses.

Lessons learned? Challenges?

there was another house just like it offered in the same development. wish i bought it as well. The demand and reviews on the house is pretty good given its location and amenities

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

yes Clara Harrison from Urban Durham Realty. she is very energetic and quick in responding. she is also very diligent.