Is this a conversion that will also require substantial renovations?

And you’ll be much more relaxed too bc  you won’t have to deal with 1 million house problems and annoying guests 😂😂😂I think some people are diving into STR because they think it makes them look cool, or they want a cool side project.

It’s a newly renovated 3-bedroom, 2-bathroom home, just one block from the ski slopes and four blocks from downtown.The current owner has been renting it out for $30,000 per month during the peak winter and summer seasons.

Renovation cost is roughly $30K.I guess what throws me off is that you say Cash invested: $60 

If you are going to be an owner-occupant, want a low down payment, and are planning to do a renovation, the FHA 203k and Fannie May Homestyle loans are your best optionsHow do you know the property is currently upside down on the mortgage? 

With your background as an electrician, contractor, and project manager, you have a unique advantage in real estate.

So, if a loss occurs while the property is being repaired or renovated, coverage would apply, correct?

Projects that may not make sense for some, will make sense for you if rehab cost is at 70%, comparatively.

I use partnerships to help me fund my projects when it is hard to get financing.

I’ve got a few rental properties under my belt and am now diving into value-add multifamily projects to grow my portfolio.My focus is simple: build wealth, create opportunities, and enjoy the process along the way.