First Rental: Single Family Residence
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