Got Started in REI with Short-term Rental Property
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $305,000
Purchased a SFH in East Nashville. Operate it as a STRP (short-term rental property).
What made you interested in investing in this type of deal?
Nashville is an incredible market, especially for STRPs. The house is a great location within Nashville.
How did you add value to the deal?
Purchased the house brand-new, so it was in ideal condition. The best partner in the world, my wife, has been crucial to the décor, management, and constant improvement of the property.
Lessons learned? Challenges?
Research and knowledge are pre-requisites to success.
I am confident short-term rental properties are an option for more investors than use the strategy. It is a different niche, with its own challenges, but could provide great opportunities for certain properties.