Half acre and 2 home rehab. Tiny Home STR success story

[Mindy Nicol]

Investment Info:

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

Purchase price: $230,000
Cash invested: $170,000

Two homes on half an acre. Both rented at the time of purchase. Homes were in disrepair and needed immediate renovation. I was able to do gut renovations on both when leases ended. Home and land was owned by a hoarder so major cleanup was needed. Both homes have been renovated. Tiny house is currently a successful short term rental booked EVERY weekend. (Palm Cottage in Airbnb). I am living in the main house while I wait to get into position for my next investment.

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

Anything with legal 2 home structures 6 minutes from downtown made me interested. The area is in transformation so I knew equity would happen over time as well.