Single-family residence other investment in Leesville.
Purchase price: $89,000
Cash invested: $9,000
One of the only places in the entire neighborhood with a Garage, 6 ft. privacy fence, and backyard shed with it's own power. Not to mention the brand new roof and remodeled kitchen. No carpet throughout the entire house.
5 Bed / 2 Bath
What made you interested in investing in this type of deal?
Initially purchased to live in and was not an investment choice, rather a way to save money over renting. Was stationed in Fort Polk. I have had this property up for sale for a while and if nothing bites within the next month, this will be my first of hopefully many rentals.
How did you finance this deal?
I used the VA to assist me in this loan. The process was almost seamless, and required only about $200 down which most of which went to escrow anyway. Looking forward to using them again when looking for a duplex or bigger in AZ.
How did you add value to the deal?
So far I've recently put a new roof on, less than a year old, new privacy fence, remolded kitchen and flooring throughout the entire house.
Lessons learned? Challenges?
Biggest lesson learned was to use your own inspector. The roof needed to be repaired within the first 3 months of moving in and showed a very bad patch job from the previous owners. Added a better patch until I had the funding to replace the whole thing.
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