Deal #7 - Lanier Short Term Rental

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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!

PURCHASE DETAILS

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 

Bed/Bath: 3br/2ba

 

PICTURES

 

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