My first Short Term rental property

[Wala Habiby]

Investment Info:

Single-family residence buy & hold investment in Pigeon Forge.

Purchase price: $85,000
Cash invested: $65,000

Bought a cabin that has been abandoned for over 10 years and needed everything. After putting a lot of money in it, I am working on getting it finished then furnished and put it as a short term rental.

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

The market, and the desire to have some investments with less daily personal management

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

Wholesaler

How did you add value to the deal?

The whole cabin was renovated, inside and out.

What was the outcome?

Great cabin that is going to do great for the next 20 years.

Lessons learned? Challenges?

Its hard to find a lot of different contractors to work up in the cabins, and everything was a lot more expensive than normal.

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

Yes, The Wala Group is always there for investors.
Wala Habiby 865.385.2809