First home purchase

[Caleb Hanthorne]

Investment Info:

Single-family residence buy & hold investment in Sunburst.

Purchase price: $150,000
Cash invested: $50,000

Single family, two bed two bath. Currently renovating, will have 3 bed, 2.5 bath and double the square footage when completed. Will re appraise and hopefully be able to pull $150,000+ in equity. Will rent and move onto next.

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

After years of renting in the military, we were ready to put our money back into our own pockets.

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

Private sale

How did you finance this deal?

VA loan

How did you add value to the deal?

Forcing equity by double square footage and adding 2 beds, 1 bath.

What was the outcome?

Still in the rehab phase

Lessons learned? Challenges?

Don't try and renovate a house while living in it with two kids and a wife. Ha!