Short Term Vacation Rental

[Shauna Deal]

Investment Info:

Condo buy & hold investment in Myrtle Beach.

Purchase price: $58,100
Cash invested: $58,100
Sale price: $112,000

Ocean front condo in Myrtle Beach.

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

Who wouldn’t want something on the beach!!

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

Found it after the 2008/2009 crash. It was a short sale.

How did you finance this deal?

Paid cash.

How did you add value to the deal?

Upgraded the property with new flooring, paint and appliances.

What was the outcome?

We kept it for 10 years and just sold last month.

Lessons learned? Challenges?

The most challenging was the increasing HOA at property.

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

Yes