A great investment with fulfillment and profit!

[Peter Bras]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $400,000
Cash invested: $150,000

Sunset Ridge is a prow style cabin in Lake Arrowhead Ca. I personally spent 2 years bringing this cabin from 1970 to 2023 remodeling the entire property. It is now a successful STR stoking my love for hospitality.

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

I wanted a property that was as beautiful as the view. This property has both an incredible view and the structure was something special. It needed all the systems and interior remodeled but the ceilings, beams and structure were solid.

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

Found this on the MLS with a great agent.

How did you finance this deal?

Traditional mortgage with cash invested from selling a few properties out of state.

How did you add value to the deal?

I spent 2 years rebuilding this property on the weekends. Part of my business model has been not just profit but an enjoyment for the work. I love solving problems and building so this was just what I needed.

What was the outcome?

A beautiful property that has been successful so far in its first year on the market.

Lessons learned? Challenges?

Make sure you understand the area you are buying in, the politics of that community and the weather impacting your property. STR properties have become touchy in many locations. I bought here because it is an established STR market with existing regulations. This does not eliminate risk of further regulation but it does lower the risk.

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

I had a great agent and a great mortgage broker.