Case Study | Harwich, MA
The current owners wanted a second home and knew, based on their previous experience working with MerGo, that they were going to enlist MerGo to help find, purchase, and manage their next vacation rental. For the past five years, the MerGo team has successfully been managing a short-term rental that they owned in Boston, MA and they knew that they would be the right team to help them monetize their next vacation rental. Focusing their search primarily in Cape Cod, MA, MerGo worked with the current owners to find and purchase a home that they would be able to use for their own personal vacations and when not in use would be able to list as a vacation rental and generate income.
MerGo assisted the owners with the purchase of their home in 2019 and negotiated a below asking purchase price, with a 60-day closing, while they were out of the country. This home was chosen after careful consideration of the location, rental opportunities, and potential income that it could garner given the current rental market. There were a few modifications to the home that were made prior to listing it for rentals including painting specific rooms, updating kitchen appliances, replacing the furniture, and designing and staging the home, all of which were made in order to increase utilization and guest satisfaction.
Since listing the property in early 2020, the owners have made over $40,000 in just 8 months and have seen an annual return of almost 20%.