All Forum Posts by: Christi Wolverton

Investment Info:

Single-family residence buy & hold investment.

River Cottage with 4 bedrooms, 2 full baths, rear screened porch, front porch, hot tub and two fireplaces right on the Katy Trail.

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

I love hospitality and this allows me to meet people from all across the country and share a little slice of rural Missouri with them!

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

Drive by - saw the listing sign and made an inquiry - seller was motivated but declined our first offer. After 4 months, she had already purchased another home on another river, and sold this and the 1 bedroom cottage next door - both of which had great bones, one was partially renovated and both included about half the furniture needed.

How did you finance this deal?

Initially - line of credit on our home, then refinanced into conventional loan.

How did you add value to the deal?

Updated paint, window coverings, added furnishings, repaired hot tub, and basic landscape cleanup.

What was the outcome?

Decent cashflow and significant increase in investment value.

Lessons learned? Challenges?

Great learning experience and are now balancing off season by moving to MTR for winter months. Challenge was stocking sufficient bedding/supplies for STR - learning how to navigate Airbnb/VRBO platform differences, and communications with clients.