Single-family residence buy & hold investment in York.
Purchase price: $162,000
Cash invested: $3,500
My wife and I originally purchased this house with a VA loan and put nothing down but some fees. We lived there for 1 year and then moved and have been renting it out since.
How did you find this deal and how did you negotiate it?
I had no idea what I was doing just like the house and figured it was a good area and would rent well when we had to move due to location.
How did you finance this deal?
VA loan as little down as possible.
How did you add value to the deal?
I didn't, it was a flip
@Josiah Richard the VA Loan product is very powerful! I'm not sure why it's not used more often.
@Jabari Long , Honestly it was the only way we were able to start due to my wife being in college and me hitting he rest button on life after the military. But I was considering refinancing to lower my APR on the house and increase my cash flow slightly. Any advice if that's a good idea or not, considering the costs associated with refinancing?
It might make sense if you can get a no cost or low cost re-fi. Some banks here locally do it. You should check the banks in your neck of the woods.
Ok, thanks for the input!
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you