Single-family residence buy & hold investment in Charleston.
Purchase price: $255,000
Cash invested: $25,000
We purchased this home in Charleston, SC in June 2020. We are currently running an Airbnb from the lower-level that is covering our mortgage and about $500-$1000/month on top of that.
What made you interested in investing in this type of deal?
We wanted to get into running an Airbnb and this lent itself great for that!
How did you find this deal and how did you negotiate it?
How did you finance this deal?
How did you add value to the deal?
Updated the entire lower-level, separated the backyard, added a private driveway, $10k in furnishings
What was the outcome?
Currently live on Airbnb and covering our mortgage + about $500-$1,000 each month in cash flow
Lessons learned? Challenges?
How to run/operate a STR!
Congrats, Jack! If you need any help with best practices and rate management, I would be happy to pass on any knowledge I have!
Good stuff ! What neighborhood ?
@Jack Reipke Looks awesome Jack, I've seen a few of the other pictures you've posted of the work you've done and the place looks great! Hope to see you at the Friday breakfast meeting soon!
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