Investment Info:

Single-family residence buy & hold investment.

Purchase price: $417,400
Cash invested: $105,000

Long-term rental property, located in a nice, quiet neighborhood in Santa Rosa Beach. Minutes from Seaside, FL, and the beautiful Gulf Coast. Conveniently located near scenic 30A, Panama City Beach, and Destin/Miramar Beach.

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

We wanted to obtain another rental property, but rather than deal with STR, we wanted to offer a long-term rental to offset the over-saturated STR market.

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

Worked with a local realtor we met at our neighborhood pool. She found the deal before it was listed, and we were able to get our offer accepted without any competing bids.

How did you finance this deal?

We used a HELOC on our primary residence, and used the builder's mortgage company for the $7,500 credit to closing costs.

How did you add value to the deal?

We are currently leaving equity to build as the neighborhood phases get completed. We will update and upgrade once there is tenant turn-over (i.e. wainscotting, soft-close drawers and cabinets, shutters/blinds, screened-in porch, etc.) to match the final phase upgrades.

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

Yes, Lynne Andrews was out realtor, and she was fantastic.