Mid Term Rentals still work (and yes there are still deals in 2023!!!!)

[Bailey Kramer]

When things go BETTER than expected (it doesn’t always happen, but it did this time)🙏🏼🔥💯

I bought this property back in April 2023 for $65K 🏚️

I put in $35K and put in brand new floors, painted the entire house, new doors, new bathrooms, new appliances, and new plumbing 🫠

When I underwrote this property I thought that if I brought in $2,500/month it would be a “double”

If I brought in $3,000/month it would be a “triple”

And if I brought in $3,500/month it would be a GRAND SLAM 💰🤑

We’ll Im happy to announce that I have officially signed a 3 month lease (will likely be at least 6 months) with an insurance company who needed a house for a family because a tree fell on their house (everyone was ok 🙏🏼)

And the monthly rent? $3,600 🥳💪🏼🤙🏽

I'm in the middle of refinancing right now, but the mortgage (PITI) will be roughly $900/month

Moral of the story

1. -There are still grand slam deals out there
2. -Be patient - it took me 5 months to find this deal
3. -Change your perspective on what “risk” is and start buying 🏡🏡

*This post is NOT to brag. It's strictly to show you that it's possible for you too!!! And if you have any questions on mid term rentals, airbnb, or this deal, feel free to comment below and i'll be happy to answer it for you! There is plenty of room in the STR/MTR space!!!
*

[Shannon Strickland]

Congratulations, Bailey! The first thing that stands out is that it is possible to buy anything in the US for $65k in 2023—I wonder if there’s the same opportunity in northern Virginia (my own backyard). Second, are you willing to share how the insurance contract came into existence? How did they know about you?

Thank you for sharing and taking questions.