Investment Info:

Single-family residence buy & hold investment in Pasadena.

Purchase price: $300,000
Cash invested: $7,865

I am using this as a house hack combined with taking advantage of my military housing allowance to pocket the majority.

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

The appreciation in the area, high rental market rent rates, and took advantage of the low cost living.

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

I found this deal through Redfin. I negotiated fixing a few problems but it was a very easy process on closing the deal with very little terms.

How did you finance this deal?

VA Loan

How did you add value to the deal?

Creating a 4th bedroom in a large second living room
Updating the kitchen

What was the outcome?

Right now it is cash flowing a ton due to my house hack and military housing allowance. Once I move out and rent it out, the projected cashflow is still going to be around 500/ month after expenses.

Lessons learned? Challenges?

Purchase a really good home warranty

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

Yes - Tobin Seven in the DMV area. Licensed in DC, Maryland, & Virginia and also a military veteran.

VA is perfect for house hacking

@Austin Clark thanks for sharing the details brother, looks solid!

Originally posted by @Caleb Brown :

VA is perfect for house hacking

Yes! It is basically free money with the military paying for your house. I am kicking myself for not doing this sooner. When I was at Fort Bragg I lived on post, HUGE mistake. 

Originally posted by @David Pere :

@Austin Clark thanks for sharing the details brother, looks solid!

Thanks man! You were a huge help in the process so I 100% appreciate it, Military to Millionaires is an incredible resource you created. 

I appreciate the kind words @Austin Clark i look forward to hearing about your future successes!

Great job.  House hacking in this higher purchase priced market, is the best strategy to get started.  Good luck.

Congratulations! The dog though?!! Too cute...

Thank you for your service! 

The VA loan is awesome! Seems like you used it to your advantage.

What do you plan on doing next?  

Originally posted by @Cassidy Burns :

Great job.  House hacking in this higher purchase priced market, is the best strategy to get started.  Good luck.

Thank you! Yes Real Estate is not cheap here haha BUT I stepped into 10k instantly with it being appraised at $310k! It was a pretty cool feeling for sure. 

Originally posted by @Ola Dantis :

Congratulations! The dog though?!! Too cute...

Thank you for your service! 

haha Thank you! Yes sir Achilles HAD to be in it, its not complete without him. 

Originally posted by @Chris Stroup :

The VA loan is awesome! Seems like you used it to your advantage.

What do you plan on doing next?  

Yes I absolutely love it!

My plan going forward is to use this year to my advantage from all the income I am receiving and then once I exit the military in March 2022 I will rent this house out and use another VA loan on a small multifamily house in Ohio where I will start building my real estate up full time. Also to do the "stack" method, I will use another portion of my capital that same year to invest in a straight up investment property.

@Austin Clark Nice work! 

@Brandon Sturgill

Thank you!