Brick Ranch Minutes From Medical District and Augusta Nationals

[Brian Eilering]

Investment Info:

Single-family residence buy & hold investment in Augusta.

Purchase price: $245,000
Cash invested: $50,000

This single-family home sits close to the Medical District near Downtown Augusta, Ga. The basement was already finished, we just needed to add a small kitchen to make it a fully independent unit from the upstairs. We now rent both the upstairs main house as well as the basement apartment. We are marketing the whole house for Masters Week for 2023. For 2022, we rented the units out separately. This is great cash-flowing property.

What made you interested in investing in this type of deal?

The ability to make two units out of the single-family residence.

How did you find this deal and how did you negotiate it?

We found it on Zillow, I am a real estate agent so I negotiated the deal myself.

How did you finance this deal?

20% conventional loan.

How did you add value to the deal?

Adding the kitchen to the finished basement making two separate units.

What was the outcome?

Two separate units which have both been fully booked since purchase. We are using Furnished Finder as well as Airbnb to fill our vacancies.

Lessons learned? Challenges?

We first looked at this home as a SFR and almost passed. When breezing through the images, I realized the opportunity with the basement. There was already ample parking, the potential for this house was great!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, a great lender (Jon Bodan w/The Perpetual) who has financed many of my deals for us.