Investment Info:
Single-family residence buy & hold investment in Evans.
Purchase price: $389,900
This property is rented as an Airbnb.
What made you interested in investing in this type of deal?
Ideal possible retirement property that will pay for itself (tenants). Short term rentals can provide flexibility to stay there as a "get away" while enjoying the perks of owning rental property.
How did you find this deal and how did you negotiate it?
Found this deal on zillow.
How did you finance this deal?
VA Loan, lived in it for a year, built a salt water pool overlooking the lake, re-did floor downstairs and re-faced staircase, and moved out.
How did you add value to the deal?
built a salt water pool overlooking the lake, re-did floor downstairs and re-faced staircase, and moved out.
What was the outcome?
This property has successfully rented on its first year listed.
Lessons learned? Challenges?
Challenges? Short term rental can be profitable (if the area allows), but can also come with some headaches, more turnovers.
However, can get more money in a month with multiple people as opposed to one person or one household paying for the home in a longer term.
