Investment Info:
Single-family residence buy & hold investment.
Purchase price: $375,000
Cash invested: $230,000
beautiful 4 bed 3.5 bath beach house in ocean lakes- sleeps 13
What made you interested in investing in this type of deal?
we found this area when searching during covid, South Carolina had some of the least restrictive covid rules for staying in STR's.
How did you find this deal and how did you negotiate it?
we met a family member of the then owner, we worked a deal and landed this off market deal!
How did you finance this deal?
used a heloc on our primary and cash
How did you add value to the deal?
we upfitted the house with our specific style and paint colors as well as furniture.
What was the outcome?
it is a phenomenal house and great investment property
Lessons learned? Challenges?
it has an elevator and is a blessing and a curse, they are expensive but also helps people want to rent because it is a stilt house and is helpful for some of our aging travelers
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
no
