Small Ski town Short-term Rental
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $680,000
Cash invested: $151,000
STR in Nederland, CO in a ski town.
What made you interested in investing in this type of deal?
Potential second home and cashflow opportunity.
How did you find this deal and how did you negotiate it?
Found on MLS, negotiated down around 10% below asking price.
How did you finance this deal?
Conventional
How did you add value to the deal?
Quick close after the home sat on the market for 45+ days.
What was the outcome?
Home for less than asking. We've since built quite a bit of equity in the home.
Lessons learned? Challenges?
Being our first investment, I would have spent more time focusing on the numbers behind the deal. We have made it work out in our favor; however, the first year we were not cashflowing from the property.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No