647 W. 41st Street, Savannah, GA.

[Cameron DePierro]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $155,400
Cash invested: $40,000

Property is located in Cuyler-Brownsville an historic district within walking distance of popular Metropolitan District of Savannah GA.

I purchased the property to get started in the real estate space, however I value the walkability of the property, its proximity to parks and nightlife.

Although the area is a rated roughly as a “C class” neighborhood. I have a strong conviction this area will turn around in 5,10, maybe 15 years and soon become highly desirable.

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

Idea of long term buy and hold investing, building up equity & future cash flow.

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

Found the deal on Zillow. I negotiated based on expected repairs, knocked off $15,000 off lost price in August 2023. Although I still may have over paid for this property, I’m not worried because I plan to hold on to it for the next 50+ years.

How did you finance this deal?

Conventional financing at 7.5%

How did you add value to the deal?

Renovation, renovated the kitchen, bedrooms by adding closet doors, LVP flooring through the house, new paint.

What was the outcome?

Long term tenants in place currently paying below market rent at $1200/M.

Lessons learned? Challenges?

I’m gaining knowledge of costs to replace certain things in the house. Negotiation skills.

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

Yes! I worked with Kimber Fulton with Seaport Realty in Savannah, GA, she’s great!