Staycation Investor - John
MEET THE TEAM
Staycation Investor - John
Meet John, a busy professional referred to us by our short-term rental property manager. With limited time and resources, John was eager to dive into property investment but needed guidance to secure his first investment property. His journey with One Central Property was transformative, leading to a successful venture into the short-term rental market.
Initial Challenge
John was looking to invest in a property suitable for short-term rentals but faced constraints in time and resources, requiring expert assistance to lead the way.
Strategic Intervention
We facilitated the extraction of equity from John’s home to use as a deposit, maximizing the interest from the equity loan to minimize his tax bill. Given the tight timeline, we focused on acquiring an established property that required minimal maintenance and was ready for immediate short-term rental.
Impressive Outcomes
We secured a property in a high-demand area for short-term rentals, negotiating $15K off the purchase price. With the help of our specialized property manager, the property was quickly furnished and secured its first booking with a company, generating over $18K in revenue from a 7-month stay.
Client Situation Before Purchase
John was eager to enter the investment property market but was constrained by time and resources. He needed a strategic approach to secure a property that could generate immediate rental income.
- We leveraged equity from John's home to fund the deposit, optimizing his financial strategy for tax benefits.
- Our team identified an established property in a prime location for short-term rentals, negotiating a favorable purchase price and ensuring it was rental-ready.
Results and Next Steps
John’s collaboration with One Central Property has resulted in a successful entry into the short-term rental market, achieving substantial rental income from the outset. Moving forward, John plans to continue working with us to explore further investment opportunities, leveraging our expertise to build a robust and profitable property portfolio.