Deal #7 - Lanier Short Term Rental
Current Cash Flow - $1,000/mo
Have you ever bought a new home on a whim?
One Sunday morning during the pandemic I was looking through Zillow for a multifamily in Charlotte to house hack. I still had some VA loan allotment left and needed to put it to use.
That morning I realized I didn't want to live in a 500sqft shack, and it was time to put the VA loan in play. I drove around with my wife looking at different neighborhoods, not exactly looking to buy but just getting a feel for Charlotte on a beautiful afternoon.
Fast forward 6 hours and we were putting an offer in on this house, and the next day it was accepted! It's in the fantastic Oakhurst neighborhood in Charlotte and is a beautifully done home.
Since I purchased it I rented it out a couple rooms for a time, and now it serves as an awesome AirBNB making consistent income!
List Price: $289,000
Purchase Price: $275,000
Closing Date: July 9, 2019
Source of Deal: MLS
Funding Source: Conventional - VA
Size: 1,050 sqft