Investment Info:
Single-family residence buy & hold investment.
Purchase price: $123,500
Cash invested: $25,000
Just recently purchased my third investment in my hometown of Greenville, SC while residing in Austin, Texas. Close date 12/27/2019. If you know anyone interested in renting out this property, please do not hesitate to contact me.
What made you interested in investing in this type of deal?
The area is up and coming yet the home has been beautifully flipped. I see a lot of potential for a buy and hold in this area. My goal is to rent it out and over time had a guest house in the backyard for an extra revenue stream.
How did you find this deal and how did you negotiate it?
My mother of all people sent me the Realtor.com listing. I had already made a contact with one of the best agents in town and established that relationship. She did her ground work and spoke to the seller and we put in our offer!
How did you finance this deal?
20% down of my own cash. The rest will be financed with a community bank at 4.45% for a 20 year loan.
How did you add value to the deal?
N/A
What was the outcome?
N/A
Lessons learned? Challenges?
Trust your gut. This was one of several that I had looked at before making an offer. This one checked all the boxes. Just remember it only takes one property!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes - more than happy to share, just contact me directly. I had a wonderful agent and lender.
