Buy and hold short term rental with no money down

[Joseph Walker]

Investment Info:

Single-family residence buy & hold investment in Compton.

Purchase price: $70,000
Cash invested: $8,500

I purchased this property to turn into a short term rental. When I acquired the property, only have of it was finished. I remodeled and furnished it in time for peak season for short term rentals in the area.

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

I found this off market property through a friend. The previous tenants left the property in rough shape, leaving a lot of trash and personal property on site. I was able to buy the property as is but had to haul off the 10 trailer loads of trash.

How did you finance this deal?

I pulled equity out of my first BRRRR and closed with no money down! I paid for the remodel and furnishing out of pocket.

What was the outcome?

It is currently a successful short term rental in a tourist destination.