Single Family Buy and Hold in North Florida

[Colin McCarthy]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $270,000
Cash invested: $15,000

5 bd/3.5 bath golf course SF home

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

Trying something besides condos.

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

Worked with a realtor who had sold me a condo and negotiated through him.

How did you finance this deal?

20% Down conventional

How did you add value to the deal?

Minor refresh.

What was the outcome?

Rented year to year. Lousy cash flow but good appreciation...will likely sell in 2021.

Lessons learned? Challenges?

Don't buy if it doesn't cash flow...

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

Hugh Williams.