San Antonio Short Term Rental

[Aaron Bihl]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $222,000

This a property I bought from a friend with owner financing, I was able to purchase the property with 10 percent down. It has a back house with a long term tenant and the front will be a short term rental.

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

I like beacon hill, I believe I purchased it under its actual value. Over 2 years ago it appraised for 225k and I believe I could sell for 250-275k.

I like the extra unit with a tenant in the back and the main house has a ton of character and will make a great airbnb.

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

A friend and fellow investor sent it to me and asked if I was interested or knew anyone who might be.

How did you finance this deal?

Owner financing.

How did you add value to the deal?

I plan to move into and fix up the back unit, and then eventually use it as a medium term rental (furnished corporate rental)

Lessons learned? Challenges?

Do your homework. I'm waiting on my permit to operate from the city. There was a hang up with the back unit not being permitted correctly so I'm working to address that before I can get the permit. Hopefully it will be resolved soon but definitely has delayed things and it's painful to have an Airbnb ready to go that cant be used yet.

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

Excel title on the owner financing end. They are great!