Second Rental Property

[Greg Lees]

Investment Info:

Single-family residence buy & hold investment in Beaufort.

Purchase price: $250,000
Cash invested: $70,500

3 bedrooms, 2 1/2 baths, two story beautiful home.

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

Beautiful neighborhood and home located just a few blocks away from Naval Hospital Beaufort, SC

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

My realtor sent me the MLS listings for the area, and I negotiated through my realtor

How did you finance this deal?

25% cash down, the balance I financed

How did you add value to the deal?

Had the interior of the home repainted, new carpets, new washer and dryer. I had the trees and bushes trimmed back away from the house.

What was the outcome?

4 days after closing I had new tenants move in.

Lessons learned? Challenges?

It was a challenge getting the house turned in 3 days. Definitely a team effort.

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

Jared Romero with Bay Street Realty

Carla Ashley at Midland Mortgage Co

Mark Bryant with Bryant Brokers