1880's Victorian Seasonal Vaction Rental

[Maura Paler]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $525,000
Cash invested: $120,000

Live in and season vacation rental (during lucrative track season)

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

Close to our other rentals, lucrative seasonal income

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

Trulia app notification on my phone - been watching RE for one year. This is the only property we looked at, made full price offer as we felt it was under priced and it is a VERY competitive market here.

How did you finance this deal?

Traditional 30 yr mortgage.

How did you add value to the deal?

Added a full bath, cosmetic interior work and some landscaping

What was the outcome?

Awesome

Lessons learned? Challenges?

Very happy, local recommended contractors which we were very fortunate to be very happy with. No real challenges.

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

No