Single family home Rental

[Edward Eustace]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $196,000
Cash invested: $5,000

Single family home in North Charleston, SC I built when I was in the Navy. The home has been rented out since we moved for over a decade. Due to the current market conditions pricing the home in the mid 300's we will soon be selling it to the current tenant to increase our portfolio diversification to a more profitable area.

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

At the time it did not make since to sell it when I got out of the Navy in 2011 so we transitioned to a rental since we could break even at the time.

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

N/A

How did you finance this deal?

VA home loan

How did you add value to the deal?

Current value from real estate professional at $366,000

What was the outcome?

Time will tell after closing with the current tenant, anticipate a good exit.

Lessons learned? Challenges?

Rental pricing, the value of having enough money in reserve for emergencies. We definitely learned where we do and do not want to invest and the price range matters.

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

I would highly recommend the lender I worked with on this and several other deals. Steve Ellis is absolutely incredible, his customer service is hands down best in class.