First Rental Investment! Greenville-Spartanburg Area.

[Mackenzie Zintel]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $165,000
Cash invested: $9,000

Live-in, house-hack, short-term rental.

Home is currently SF with a finished basement that has a separate entrance. Living on the main floor and doing short-term rentals for the basement. Conservative analytics predictions showed I should expect $1300 in income from renters each month, allowing me to live for 'free'.

When I move out, I will likely convert the basement to a separate unit, making the home a duplex. At that point, it should generate a minimum of $400 a month in profit.

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

My pursuit of early financial freedom, and accumulating cash-flowing assets.

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

Trulia. Negotiated through a buyer's agent.

How did you finance this deal?

FHA.

Lessons learned? Challenges?

I should keep my REI money in a bank with local branches.

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

Buyer's Agent: Tim Heatley of Blackstream in Greenville.