Pearl's Place in Georgia

[Nathan Veilleux]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $357,000
Cash invested: $36,901

3/3 Mountain home within 10 minutes of town. Vacation rental.

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

We bought where we like to vacation and we currently have full-time jobs and are looking to see if we can phase ourselves out of them or at least one of us.

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

Through a friend who is a real estate agent in nearby Georgia.

How did you finance this deal?

30-year loan with 10% down.

How did you add value to the deal?

We furnished the property and made small improvements.

What was the outcome?

Still renting well.

Lessons learned? Challenges?

Need to give ourselves more time to get ready and meet with property managers before making a decision on whom to use. Also, I would have liked to interview a handyman for some of the simple repairs. The property manager has one, but I like to be able to talk to them if I know what I want, and having a construction background, I am pretty specific about repairs/replacements.

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

Ashlee Duell