Buy and Hold Rental In Rock Hill SC

[Taylor Byrd]

Investment Info:

Single-family residence buy & hold investment in Rock Hill.

Purchase price: $177,000
Cash invested: $15,000

This is a property I purchased with 5% down as my primary residence in 2018. I have moved and I am placing a tenant soon at $1500/mo rent plus pet rent if they so choose. My mortgage PITI is $998/mo.

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

Trying to grow a long term portfolio of rentals as a way to build a solid monthly cash flow and long term wealth.

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

Found on redfin/zillow, bought through an agent.

How did you finance this deal?

Traditional mortgage, 5% down

Lessons learned? Challenges?

Still learning :)

[Taylor Byrd]

@Chris Lounsbury I am going to reserve 10% of the rent for CAPEX and I am managing the property myself so it will cash flow positively a few hundred bucks. I don't really need the cash flow for my everyday expenses so it will be saved / invested for future investments.

@Jenny Roman there are several properties that are for sale in that neighborhood and with the Carolina Panthers moving their headquarters to Rock Hill, a few miles away, the area will certainly see appreciation and growth. This property did not need much if any work. I changed fixtures, painted, etc.