Single Family House Hack/Rental

[Charles Eskew]

Investment Info:

Single-family residence buy & hold investment in Moncks Corner.

Purchase price: $210,000
Cash invested: $1,000

This property was a single-family house hack that I later turned into a rental. I used a VA loan to purchase the property which is the reason for the low down payment.

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

At the time I just thought it would be a good idea because I had two roommates who wanted to move in. I didn't know anything about real estate and actually purchased a new construction property.

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

MLS/No negotiations because it was a new construction.

How did you finance this deal?

VA loan with only earnest and due diligence money out of pocket.

What was the outcome?

The property has been paid down to 198k and is now a cash flowing rental. On top of that, it has appreciated by about 30 thousand dollars.

Lessons learned? Challenges?

Real estate is extremely forgiving if you're in it for the long term.