Updated Charleston SC Investment

[Cassidy Burns]

Investment Info:

Single-family residence buy & hold investment in Charleston.

Purchase price: $505,600
Cash invested: $78,000

Long term buy and hold in West Ashely Charleston SC. I performed a 1031 exchange from a duplex that I performed a BRRRR on in 2017 and repositioned that money into a more stable, appreciating asset.
Purchase Price: $505,000
Appraised Value: $535,000
$30,000 in initial equity the day I signed on the dotted line.
$78,000 of 1031 exchange funds invested (15% down)
Mortgage: $2,850/month
Property currenlty rented for $3,595/month.
Cash flow is $745/month WE will set the funds in this property for the time being , in what I believe is a very high appreciating market and nice cash flow as well. We will then 1031 exchange this again into a larger building.

Happy Investing!

[Cassidy Burns]

Thank you @Alex Olson the important thing for me was to get out of the smaller town markets that I had originally purchased because they were "Cheap" ($35,000) and just chasing Cash on Cash Return (bad advice from Biggerpockets), and get that money into a more stable higher appreciating market like Charleston.  Luckily that property 2x while owning it so I took the profits and ran!