First Rental: Single Family Residence

[Brendan Woodburn]

Investment Info:

Single-family residence buy & hold investment in Abbeville.

Purchase price: $260,000
Cash invested: $13,000

Financed with a conventional loan in the end of 2021. Bought new construction.

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

I was hungry to finally step into the real estate game, wanted to move into the Charlotte area but ended up not getting the job I wanted and stayed in Maryland. I rented the house out ever since.

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

Found a local realtor, paid the asking price.

How did you finance this deal?

Conventional Loan.

How did you add value to the deal?

I have put in no value, just good ol natural appreciation.

What was the outcome?

Amazing first deal, I have had a 3 year tenant who makes no fuss and is very easy to work with. Property management company is amazing. I cash flow well with low risk.

Lessons learned? Challenges?

Wishing I had bought more at the time instead of waiting until 3 years later to invest again.

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

Brian Boger: Keller Williams Realty