Closed on 1st Investment Property!!

[Ryan Copeland]

My goal for 2020 was to purchase 2 investment properties. Well, I didn't get 2 properties, but I did get 2 doors on my 1st deal.  

Yesterday, December 30th 2020, I closed on my first investment property which is a duplex. Each side is 1,000 sq ft and has 2BR, 1BA and built in 1950. I purchased the property for $65,000 cash. This will be BRRRR property I plan on making it a STR as it's located in a small historic town, Warm Springs GA, and is in walking distance to all of the shops.

I love this deal because I have multiple exit strategies. If the STR doesn't work, I can always rent out both sides and cashflow. It'll appraise for more than I'll have in it, so I can sell in a few years if I wanted to.

Here's to closing out 2020 and #CrushingIt in 2021!!

[Kendra DeKay]

Congratulations Ryan! That's super exciting!! I see you're in Columbia—my boyfriend went to USC and we live in Aiken, SC. We are closing end of January on our first investment property (also a duplex for short term rental). You probably already knew this, but I just learned that in our city there's an additional municipal "AirBnB" tax of 9% on STR. Just thought I'd mention it because it's something we've had to learn more about as first time investors. Good luck on your exciting venture!