Short Term Ocean View Rental

[Sean Delisle]

Investment Info:

Single-family residence buy & hold investment.

Did a 1031 exchange for a commercial building I owned for this Ocean View Short-Term Rental in York, Me

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

I like the guest experience of the short term rental business

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

I found it off market and negotiated $50,000 off asking price. It was literally weeks into the pandemic

How did you finance this deal?

Cash

What was the outcome?

We have had great success renting it even through the Summer of 2020

Lessons learned? Challenges?

I think I would have tried to purchase two lower end homers if I had the option. A high end investment property is a little stressful in regards to damage

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

Yes.