Downtown Savannah GA

[Joseph Nance]

Investment Info:

Single-family residence buy & hold investment in Savannah.

Purchase price: $38,400
Cash invested: $5,000

2 bedroom 1 bath with full fenced in yard. Renovated 3 years ago by prior owners

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

Good investment

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

auction site

How did you finance this deal?

bestegg.com

How did you add value to the deal?

All new paint and porch

What was the outcome?

Higher yielding rent

Lessons learned? Challenges?

Downtown Savannah does not allow you to rent your home as a vacation home without resident occupancy of 3 or more months

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

NO

[Joseph Nance]

The first site I used was with my PA property, williams and williams. They have low fees. Savannah is a odd ball market. I found it extremely difficult to find a reliable contractor. Many of the properties are in truly dire need of complete rehab as well. The best way I can put it, it is a good ol' boy city. Everyone is friendly to your face but everyone talks behind.