Gut Reno Short Term Rental

[Mackenzie Grate]

Investment Info:

Single-family residence buy & hold investment in High Falls.

Purchase price: $180,000
Cash invested: $85,000

This is a short term rental I renovated and designed. It's now live on Airbnb to rent :)

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

It was a great location and I saw the potential in the house. It also had been sitting for awhile.

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

MLS. I was the realtor and negotiated on my own behalf.

How did you finance this deal?

A commercial loan

How did you add value to the deal?

I renovated the house top to bottom and did the interior design work myself.

What was the outcome?

Awesome! It's renting regularly and so far, so good.

Lessons learned? Challenges?

Basements and flooding. Lol. I learned the importance of a french drain, making sure you have a great sump pump. Water sensors, etc.

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

Me. I am an RE agent and I represented myself.