Updated about 3 years ago on .
Using VA loan in a new build development
Investment Info:
Townhouse other investment.
Purchase price: $235,000
Sale price: $347,000
Townhouse purchased in a lot development. Bought in early using my VA loan. Waited for the area to appreciate and prices to go up and the lots were developed and sold.
What made you interested in investing in this type of deal?
I knew as the lots built and sold the values would go up.
How did you find this deal and how did you negotiate it?
The lot was under contract but fell out. Since I lived close I was able to step in and take the previous buyers place with minimal downtime to the builder. That allowed me to get in with just a $500 deposit on the lot
How did you finance this deal?
I used my $0 down VA loan for this one
How did you add value to the deal?
I upgraded the home where I knew the next buyers would see the value. Premium flooring, granite counters and a few custom features.
What was the outcome?
$110K profit on a $0 investment!