Charleston SC Investment

[Jonathan Mahan]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $265,000
Cash invested: $65,000

Single Family home in desirable neighborhood within walking distance of new elementary school. Added solar panels and wall to wall renovations along with spray foam insulation. Massive yard in a quiet culdesac. Renting currently with utilities included (they're not much with the solar) for $2600 a month.

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

We lived in it. Small kids and a great neighborhood/schools. Buy and hold investor that's finally beginning to make progress with real estate after years of military moves with buy and holds.

How did you finance this deal?

Conventional. 3.5% down.

How did you add value to the deal?

renovated everything.

What was the outcome?

Lots of money invested by re-appraised at $320,000, so house has about $80,000 in equity. Hold an rent while property value shoots up next to a brand new school.

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

David Barton of ReMax. Epic realtor. He's family now.