Investment Info:
Single-family residence buy & hold investment in Shelby.
Single Family Vacation Rental - La Bella Vie Cottage - with access to 1/2 mile of Lake Michigan beachfront.
Guests love our cottage; we are in a peaceful, private neighborhood. The tree lined roadways near our cottage are gravel, meandering and not busy, wonderful for a morning walk. Our location is private; our barn blocks the yard from the roadway offering privacy for sunning, grilling out or curling up in a chair with a good book. Our cottage is surrounded by woods, with a lush green lawn, and beautiful flower gardens. Returning, at the end of a day at the beach, to a shaded yard filled with blooming flowers, and cool breezes blowing through the trees, offers a wonderful peacefulness and tranquility. On breezy days, as you relax around the crackling fire pit, you can hear the sound of the waves drifting through the trees.
Our sugar-sand beaches are not crowded; it is easy to find a secluded spot to view a spectacular sunset and enjoy the splashing of the waves on the shore. Our beach is private, owned by our association; it is always open to members and our guests.
After enjoying our beautiful Lake Michigan waterfront with sugar sand beaches, crystal clear waters, and spectacular sunsets, you may want to:
Go on a sand dune ride at Silver Lake sand dunes, visit Fox Barn winery, or visit Lewis Farms Market - not your ordinary petting zoo!
Purchase fresh veggies or baked goods at Cherry Point Market, or watch dirt track races at Winston Raceway,
Fly down the water slides at Double JJ Indoor Water Park; visit Stony Lake Inn, the local pub, to watch the big game or,
Browse shops in the quaint coastal town of Pentwater, or play golf at Benona Shores Golf Course
All within 12 miles of La Bella Vie Cottage!
Come Visit & Relax, unwind, create memories.
What made you interested in investing in this type of deal?
The home is located in a quiet, secluded forested area with 1/2 mile association access to Lake Michigan, perfect spot for a vacation rental.
How did you find this deal and how did you negotiate it?
LOL, husband has always wanted a pole barn, we were moving to our fully furnished cottage - making it our primary residence - and we had tons of extra furniture from our old home. We spotted this home with a pole barn in the dead of winter, in the neighborhood we were moving to, did some comps and made a low-ball offer. To our surprise, it was accepted. Husband gets his barn and we have a place to put our extra furniture. Win - Win
How did you finance this deal?
Cash from the sale of our personal residence.
How did you add value to the deal?
Tiled the bathroom floor. Redesigned the layout of the kitchen, adding a snack bar. Because of the redesign of the kitchen, we were able to add another bedroom. Landscape updates to create an outdoor dining, grilling, and firepit area. Turned a shed into a 'bath house' adding a 1/2 bath.
What was the outcome?
We have the pleasure of introducing guests to the beauty and majesty of Lake Michigan and the rural charm of our area, which is packed with a ton of activities for families. Since we maintain it, it is spotlessly clean and cared for, as a result, we have a solid rental history, generating a solid income.
Lessons learned? Challenges?
While our net of $440 to $1350 per month sounds great for a single home, it does not take into account the work involved (which my husband & I do) on a daily and weekly basis to clean, maintain & improve our vacation rental. If we had to pay others to do this work, income would be SUBSTANTIALLY reduced. Do the math yourself before you take this on, if you have more time than money - go for it. Otherwise, all said and done, you'll be making $10 to $15 an hour. Annual costs are 10K w/o a mortgage.
