Beaufort Investment Property

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $220,000
Cash invested: $200,000

Me and 2 family members bought the shell of a house that sits 10 ft from a deep canal. We have been working on finishing the interior, adding stairs, and are currently painting the interior.

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

No other buyers would touch it because it needed so much work, and it was not in the populated downtown of Beaufort.

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

Found it online.

How did you finance this deal?

Cash

How did you add value to the deal?

The 3 of us have different licenses...plumbing, electrical, general contractor, and septic installation licenses.

What was the outcome?

Still working on finishing the property.

Lessons learned? Challenges?

Don't buy properties that you will personally do a lot of work on that are 3.5 hours drive from where you live.

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

I am a seasoned real estate agent with Keller Williams Pinehurst. I help others (buyers, sellers, investors) and also am an investor myself.