First investment into a buy and hold deal
Investment Info:
Single-family residence buy & hold investment in Vista.
Purchase price: $427,500
Cash invested: $8,000
A mostly appreciation based purchase motivated by short and long term appreciation as well as the other benefits that come from being an owner instead of a renter. I intend on living at the property for 1-2 years to satisfy the requirement of my fixed 30 year VA loan and then moving to the next deal.
What made you interested in investing in this type of deal?
Ongoing construction projects in the area as well as the proximity to the recently booming city of Oceanside. It also makes more sense to buy at a low interest rate of 3.6% and only 8k into controlling a 430k asset.
How did you find this deal and how did you negotiate it?
I found this deal through my realtor. I negotiated the asking price of 430k down to 427500 with a 5k sellers credit towards closing costs.
How did you finance this deal?
I used a 30 year fixed-rate VA loan with a 0 down payment requirement at a 3.6% interest rate.