First STR in Rogersville, TN

[Michael Sassone]

Investment Info:

Single-family residence other investment in Rogersville.

Purchase price: $90,000
Cash invested: $10,000

Cozy and charming 3 bedroom 2 bathroom on a half acre in Rogersville TN. 3 minutes from Cherokee Lake.

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

The ROI of a good STR always appealed to me.

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

Mother in law passed away. Brother in law did not want anything to do with the house.

How did you finance this deal?

Cash

How did you add value to the deal?

Didn't have to except decorations and a fire pit in the backyard.

What was the outcome?

Brother in law accepted it.

Lessons learned? Challenges?

Perfecting the property as an STR without putting too much money into decorations and amenities. Not all STR's are created equal

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

No.