First time homebuyer turned landlord
Investment Info:
Single-family residence buy & hold investment in Magnolia.
Purchase price: $265,000
Cash invested: $15,000
VA loan house lived in for 2 years then reused the Va loan, bought in an expanding neighborhood below the appraised value and as the neighborhood competed, the property value rose 15%.
What made you interested in investing in this type of deal?
Originally was my family home, later turned into a rental
How did you find this deal and how did you negotiate it?
No negotiation
How did you finance this deal?
VA
How did you add value to the deal?
Bought before neighborhood was finished, small finishes such as exterior upgrades and fencing, as well as upgrades kitchen and laundry room.
What was the outcome?
Holding
Lessons learned? Challenges?
Sweat equity is amazing, as well as finding an area about to boom.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Negative