Sub-To Purchase to Airbnb

[Cory Miller]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $186,000
Cash invested: $70,000

Purchased this unit through creative strategy, (sub-to) current is an Airbnb in Baltimore. MD

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

Live in the area and owned a profitable unit nearby

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

A client whom wanted to sell her home but was under water due to needed repairs vs current market condition

How did you finance this deal?

Create deal with seller. Subto

How did you add value to the deal?

Force equity through rehab

What was the outcome?

Profitable airbnb

Lessons learned? Challenges?

Always present alternative options

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

No, I am an Agent and there was no loan