Rental Arbitrage In Sandbridge, VA

Sandpiper Retreat is a 7 bed, 4.5 bath “4th row” beach house in Sandbridge, VA.  Unlike my Massanutten and Wintergreen properties, I don’t own this one, but rather have signed a 4 year lease with the owner to do rental arbitrage (meaning, I will rent it out on a short term basis for more than I’m paying the owner).  The owners have been using a traditional property management company and felt like they were constantly “managing the property manager”, so they decided to go 100% hands-off by bringing me in. That lease started January 2024. The renovation took about 2 months and about $65k of investment, but early signs are that it will pay off nicely with annual revenue expectations in excess of $200k.