Updated 9 days ago on . Most recent reply
Successful New Hampshire SFR!
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $350,000
Cash invested: $10,000
Beautiful 3 Bedrooms, 2 full bath and a 2 car garage within walking distance from downtown life! This house has spacious 10 ft ceilings with lots of lighting. Sliding door opens up to a large back deck where you can look out onto the 1/2 acre property. The large, insulated basement sports a 9 ft ceiling and natural lighting from 3 windows, washer & drier, and a walkout door to the backyard. Modern kitchen includes a single deep sink basin with stainless steel appliance and granite countertops!
What made you interested in investing in this type of deal?
I was interested in rental properties, learning through Bigger Pockets and Passive Real Estate investing with Marco Santaerelli. After being stationed in the area we decided to purchase a house with the intent to live in it for a few years to see how the area was and then rent it out if possible.
How did you find this deal and how did you negotiate it?
I found the deal through traditional methods, utilizing a real estate agent and finding an area and a house that I would like to live in first.
How did you finance this deal?
I was able to utilize a VA loan with $0 down and only paying closing costs. After 2 years I refinanced into a conventional loan with a 3% interest rate!
How did you add value to the deal?
I was able to utilize $0 down VA loan and a hot market with low interest rates. Adding cosmetic improvements (fence, paint, grass) as well as an improving area increased renter desirability.
What was the outcome?
I was able to purchase a property with almost no money upfront and turn it into a cash flowing investment with little to no vacancy.
Lessons learned? Challenges?
I first allowed the tenants to take care of the lawn, after no maintenance and having to redo a 1/2 acre yard, I now take responsibility for lawn care.
