Case Study - Our 1st Full House STR on Carolina Beach.

[Bret Gillespie]

Investment Info:

Townhouse buy & hold investment in Carolina Beach.

Purchase price: $365,000
Cash invested: $22,000

Contributors:
Danielle Gillespie

Short Term Rental 1 Block from the Ocean. 4 Bed, 4.5 Bath, with 2 car garage underneath. Walking distance to boardwalk/most all of the dining in town. Views of the Yacht Basin from Master Bedroom and Living Room/Kitchen.

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

I love Short Term Rental more than any other type of investing currently, but would like to get into BRRRR.

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

On MLS for over 180 days, but had not accepted any low ball offers. Negotiated with the Seller and got it under list price, as well as had it almost fully furnished for purchase price.

How did you finance this deal?

Partnered 55/45 with another investor, and split the down payment.

How did you add value to the deal?

Found the deal, helped finance the deal, and my wife Danielle and I manage the short term rentals on the home.

What was the outcome?

This home nets about 30-35k in profit annually, hopefully giving us the springboard to the next properties to come.

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

Yes, my wife Danielle Gillespie with Danielle Gillespie Real Estate. She does an incredible job, and works tirelessly for her friends/family, but also for every client that chooses to value her services.