My 1st STR investment, 2nd as a new investor! Destin. FL

[Holly Smith]

Investment Info:

Condo buy & hold investment in Destin.

Purchase price: $283,500
Cash invested: $73,000

STR managed by a third party, a few minute walk to the beautiful beaches of the emerald coast. A clean updated 2/2 that I purchased turn key with all new appliances and well decorated... hoping to enjoy as well as provide some rental income and tax write offs for my W-2

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

I enjoyed visting here, likely one of the most affordable options to be able to own a "beach house," tax write offs and making cash flow on a place I can also enjoy and continue investing!

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

Off market deal, contacted realtor from another who had good experience with their team.

How did you finance this deal?

Conventional 2.99% 30 year as a second home 25% down

How did you add value to the deal?

The appraisal came in lower so was able to split the difference to lower the purchase price by 7k

What was the outcome?

Have not seen yet how everything will go and the bell curve of occupancy and income for the year, but looking forward to seeing what I can do to improve it.