Converted all my long term rentals into STR's

[Phillip Anthony Williams]

Investment Info:

Single-family residence other investment in Savannah.

Purchase price: $110,000
Cash invested: $20,000

I converted this home from a long term rental to a short term rental.

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

Got tired of the grind of long term rentals and the income is much better.

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

It was a home I optioned with the owner and sublet is out as a rent to own for a long time, saving the owner for foreclosure. I latter purchased it after renegotiated our lease purchase contract and purchased it.

How did you finance this deal?

Option first with no money into it, later I financed with a bank.

How did you add value to the deal?

Because it's now a STR, I'm responsible for the upkeep and as a host, if I want to keep my supper host status, the home is improved yearly.

What was the outcome?

on going

Lessons learned? Challenges?

If STR's (Airbnb & VRBO) had been around sooner, I would've started there.