Beach house in Florida - for short-term rental

[Mihai Echim]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $580,000
Cash invested: $40,000

Bought the house as a short short term rental investment. Four minutes walking distance to the beach. No HOA.
The house is close to Cruises in Cape Canaveral, Florida and you can see Space X Launchings from there. It will be listed on Airbnb and other short-term platforms in March after remodeling. Around $300 per night.

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

As a Real Estate Agent I was working with a client on the same street. I helped him to buy a house in the area and caught my attention.

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

I was contacting owners in the area when I found a house for sale, and I bought it. There aren't too many options in that area.
I negociate $45,000.

How did you finance this deal?

Conventional loan.

How did you add value to the deal?

Renovate.

Lessons learned? Challenges?

Beach homes will always go up (my opinion). Plus is a great income if you decide to rent it.

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

Mihai Echim