Our first investment

[Rachel Degani]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $325,000
Cash invested: $35,000

We STR a 2/1 with a detached garage on (what we consider to be) a large lot in unincorporated st pete. We split the backyard with a fence and put an RV on the property which we also rent out as a STR. We have ambitions to eventually turn the detached garage into a 1/1.

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

Wanted to get started in real estate and I had a friend who did well with STRs so I chose that route.

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

MLS. I got advice from my relator how to get the house and win the bidding wars going on at the time.

How did you finance this deal?

Traditional

How did you add value to the deal?

Furnishing it with a theme

What was the outcome?

It cashflows, but not as much as we thought it would. Overall grateful to be learning the game without losing money.

Lessons learned? Challenges?

Learned that STRs can be expensive! But the amount we are learning on what it takes to own, fix, upkeep, and serve travelers is well worth it. May chose a diff strategy for our next investment.