Closing Costs $5,713
Financing Cost $7,500
Pre-Launch Costs $7,553
When we acquired the property, it was in a pretty bad long term rental property condition, so we did a complete gut renovation of all 3 units of the property, including complete new kitchen, bathroom, appliances, paint job, as well as all the doors and window frames.
It was a pretty big project which took more than 6 months time. We also semi-finish the basement to turn it into laundry room and storage space for supplies.
We closed on the property in September 2021, and started renovation process right away. The renovation of all 3 units took more than 6 month and we went live on April 2022.
If you’re looking to launch your own short-term rental properties or want to be involved in larger syndications that we organize, reach out and let’s set up a chat.