My first home purchase

[Kyle Baker]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $159,900
Sale price: $245,000

Primary residence for a year then converted to a rental property. Held until early 2022 when I decided to sell as it was my worst performing property in regards to cashflow and the HOA continued to increase year after year.

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

I needed a home to purchase so my original intention was just as a primary residence.

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

I used a real estate agent to find this property.

How did you finance this deal?

VA loan

How did you add value to the deal?

No value add was used other than living in it for a year and then renting it out.

What was the outcome?

I held this property for 4 years and then sold it as the HOA continued to increase each year and this was my worst performing property in regards to cashflow. I sold this property in the first part of 2022 for $245,000.

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

I used a real estate agent with this purchase.