Investment Info:
Single-family residence buy & hold investment in Philmont.
Seasonal STR investment property
What made you interested in investing in this type of deal?
The house needed some work and in a great location to downtown
How did you find this deal and how did you negotiate it?
Found it through my local agent and offered over asking to outbid competitors
How did you finance this deal?
Personal funds and conventional loan
How did you add value to the deal?
All new wood floors throughout, new kitchen, built outdoor shower, new driveway, general repairs
What was the outcome?
Equity and str income
Lessons learned? Challenges?
Do all capital improvements asap after the first season (collect revenue when you can then rehab)
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Sean Federowicz
