Our First Endeavour

[Nikita Baynard]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $430,000
Cash invested: $10,000

Seller Financing 10% down payment, 5% interest rate. Utilizing as STR and MTR.

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

Our Real Estate Investor! We had been looking for a few months for our first investment property

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

Our agent found the property and brought it to our attention about the seller financing option

How did you finance this deal?

Seller Financed

Lessons learned? Challenges?

Short Term Rentals take a lot of time and energy. We were able to manage the property ourselves for 6 months and eventually decided to hire a property manager to take over

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

Yes! Keith Andrews in Colorado Springs, CO

[Nikita Baynard]

@James Carlson Thank you very much! As natives ourselves we are looking forward in more endeavors with long term rental investments in the near future.

Appreciate the heads up, the property was originally used as an STR and we were able to have the STR permits reestablished with us as soon as we closed.