Single Family Vacation Rental on Fripp Island

[Greg Lees]

Investment Info:

Single-family residence buy & hold investment in Fripp Island.

Purchase price: $409,000
Cash invested: $105,000

3 Bedroom, 2.5 Bath, 2 one car attached garages, Central air and heat, weekly vacation rental

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

I’ve always been interested in vacation rentals. I had to build enough long term rentals to help me with holding costs if there were any vacancies.

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

My realtor helped me find it

How did you finance this deal?

25% down.

How did you add value to the deal?

Paint, new dishwasher, steam cleaned carpets, furnished entire home, and bought a golf cart that’s also available for rent

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

Yes. Real Estate Agent Jared Romero, Carla Ashley with Midland Mortgage Co, Matt Green with Matt’s Painting, and J.C. with Tidewatch Vacations.