The Barrel House - Lakes Region NH

[Kevin Prouty]

Investment Info:

Single-family residence buy & hold investment in Moultonborough.

Purchase price: $275,000
Cash invested: $10,000

This is our first investment property and is a fixer upper. It is known as the barrel house, due to its unique shape. My wife I are going to renovate and update the entire house, build a large wrap around deck with a pool and hot tub, and do extensive landscaping filled with native plants and fruit trees. We will live in this place for a few years and then move into something on the lake. We will keep this property and list it on airbnb as a "unique stay". Being so close to Lake Winnipesaukee, mountains, and snowmobiling trails, this place should drive in some serious cashflow!

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

Location! Being so close to Lake Winnipesaukee, mountains, and snowmobiling trails, this place should drive in some serious cashflow!

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

Zillow, and had a local realtor help us out that I met on BP!

How did you finance this deal?

Conventional Mortgage.

How did you add value to the deal?

Sweat equity and full remodel.

What was the outcome?

Still in progress.

Lessons learned? Challenges?

DIY isn't easy! But well worth it.