Central California Ocean Front Vacation Rental

[Kathrine Pomeroy]

Investment Info:

Condo buy & hold investment in Watsonville, Central Coast of California

Purchase price: $580,000
Cash invested: $20,000

Ocean Front Vacation Rental

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

I wanted an ocean front property

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

This was a bank owned property listed with a realtor

How did you finance this deal?

Conventional

How did you add value to the deal?

Remodel the bathroom and purchase furnishings

What was the outcome?

I have a great vacation rental!

Lessons learned? Challenges?

It took too long to get put on the rental market. I had hoped to have it on the market months sooner. I probably paid too much for the bathroom remodel, but it's beautiful and it created a good connection with the plumber and his crew who did the remodel.