BRRRRRnB in San Diego! Our first Short Term Rental! We opened up the floor plan, added 1 bedroom and 1 bath to the main house and will be adding another bedroom to the second unit. Our final value add will be to turn the garage into an ADU. After the cash-out refi, all three units should be pouring in cashflow since the three listing are less than a mile from the Pacific Ocean!

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

We knew we could add enough value to execute a BRRRR and pull all of our cash back out. Also, it was an amazing location!

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

Originally this deal was part of a multiple-property package, but we only wanted this one. We put in a moderate offer and stuck with our offer and stayed on the agent. Eventually, they took our offer!

How did you finance this deal?

We used a Hard Money Loan to purchase the property, financed construction on our own, then we'll do a cash-out Refi with a Commercial Lender when all three units are completed.

How did you add value to the deal?

We'll add a bedroom to both units of the duplex, another bath to the main house and turn the garage into a studio.

What was the outcome?

Tons of cash-flow with STRs. If the City of San Diego kills the Air BNB market here, we'll target monthly vacationers, traveling nurses and traveling military personnel.

Lessons learned? Challenges?

This was our first attempt at STR and we didn't realize how easy or how profitable it would be to become a host...WOW!

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BRRRRnB San Diego: We turned a duplex into a cash machine!

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