Double STR and MTR property

[Nathan A Williams]

Investment Info:

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

Purchase price: $250,000
Cash invested: $15,000

Purchased two houses on one lot for $250,000 at 2.5% interest. Both properties listed on Airbnb and VRBO as short and medium term rentals.

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

Cashflow

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

I found it myself and let my realtor negotiate.

How did you finance this deal?

VA loan with $15,000 added renovations and furniture.

How did you add value to the deal?

Didn't need to!

What was the outcome?

Cashflows around $1,000-$3,000 per year depending on demand.

Lessons learned? Challenges?

Buy creative real estate, don't chase the comfort of a nice new house, chase the cashflow opportunities to start.

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

None that I'd recommend.