First single family STR in a market that has limited Data

[Karl Denton]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $185,000
Cash invested: $54,000

Bought to rehab, and turn into a Short term rental in a market that has no single family homes listed on Airbnb/Vrbo.

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

The price point for the purchase price.

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

Found on mls, put in my offer at asking and they accepted it.

How did you finance this deal?

Using a hard money lender

How did you add value to the deal?

I’m rehabbing with about a 50-60k budget

What was the outcome?

We’re in the rehab phase and are prepared to complete before the end of the year.

Lessons learned? Challenges?

So far sticking to timelines and more repairs then we hoped for have come up.