Airbnb Goin'Coastal in Stuart, FL

[Lea Modenos]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $445,000
Cash invested: $89,000

Airbnb. Cash flow varies based on season.

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

Love the town of Stuart which is in high demand. New construction. All I had to do was furnish it and photograph it. I started getting bookings immediately. I believe the property value will increase.

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

For sale by Owner/Builder. Drove by and saw it. Negotiated seller credit $4K. I also have a Real Estate License and know the prices in this area.

How did you finance this deal?

Traditional Mortgage

How did you add value to the deal?

Created STR business. Added Fencing and Landscape. Interior Design.

What was the outcome?

Current STR. Buy and Hold

Lessons learned? Challenges?

New construction doesn't include washer dryer, which I purchased. The inspector suggested gutters which the builder didn't think was necessary. I currently need gutters due to all of the rain, but will wait on that. I wish I did a DSCR loan with my LLC but the rates were higher and it affected my cash flow.

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

No