1st Rental Investment Property

[Eric Kelly]

Investment Info:

Single-family residence wholesale investment in Myrtle Beach.

Purchase price: $153,800
Cash invested: $30,000

This was my 1st Rental Property in Myrtle Beach SC, using it as short-term rental and leveraging a property management company to handle the day to day activities. Has started cash flowing

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

I wanted an investment property that I could create cash flow with minimal work on it once the house was purchased.

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

I found it on my own using a couple real estate agents in the Myrtle Beach area until I found something that fit my criteria

How did you finance this deal?

personal savings of myself and personal savings from added business partner

Lessons learned? Challenges?

Buying first house was a bit more complicated than I had expected, especially doing it in a state far away from home.