Pre Covid Transactions

[Jo Fagan]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $100,000
Sale price: $278,000

Owner/Manager of short-term and year-round rentals in Charleston and Folly Beach, SC … Fixer upper investor, before it became nationally trendy and cool. In 2005, negotiated acquisition of a circa 1933 front beach house, in exchange for the cost of moving it and clearing the lot for the owner’s replacement build…Purchased a fixer-upper in 2010, one in 2011, and one in 2013 (Maine). In 2018, sold one in Chas., one in Maine, and purchased a townhouse as a year-round rental.

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

Greater affordability of post-meltdown prices.

How did you finance this deal?

Cash

How did you add value to the deal?

Sweat equity

What was the outcome?

Decent profit

Lessons learned? Challenges?

It can be hard work.