My First SFH Investment
Investment Info:
Single-family residence buy & hold investment in Pasadena.
Purchase price: $300,000
Cash invested: $7,865
I am using this as a house hack combined with taking advantage of my military housing allowance to pocket the majority.
What made you interested in investing in this type of deal?
The appreciation in the area, high rental market rent rates, and took advantage of the low cost living.
How did you find this deal and how did you negotiate it?
I found this deal through Redfin. I negotiated fixing a few problems but it was a very easy process on closing the deal with very little terms.
How did you finance this deal?
VA Loan
How did you add value to the deal?
Creating a 4th bedroom in a large second living room
Updating the kitchen
What was the outcome?
Right now it is cash flowing a ton due to my house hack and military housing allowance. Once I move out and rent it out, the projected cashflow is still going to be around 500/ month after expenses.
Lessons learned? Challenges?
Purchase a really good home warranty
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes - Tobin Seven in the DMV area. Licensed in DC, Maryland, & Virginia and also a military veteran.
