First Property and Beginning of Real Estate Interest

[Shane Tassin]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $122,000

2 story home with designer interior paint finishes and natural decor. Large Master bedroom with huge walk in closet, 2nd bedroom w/ private bath plus half bath on main level. Large finished lower level w/ wetbar, beverage refrigerator and 3/4 bath and family room. Spacious kitchen w/ 2 pantries, vaulted great room w/ skylight for natural lighting, gas fireplace, private partially fenced back patio. Access to major highways and shopping in close proximity

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

This was my first home purchase after growing tired of paying rent with no return on investment. This property is in a residential neighborhood that has several town house developments in addition to single family housing. After relocating to Los Angeles in 2020, I decided to turn the home into an investment property and that’s what peaked my interest into real estate investing!

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

I have a great friend who is also a Stellar realtor and she gave task to complete and I did the action throughout the process.

How did you finance this deal?

I’m a Marine Corps Veteran and worked with a great lender from Veterans United!

How did you add value to the deal?

Replaced the water heater, upgrades to dishwasher, fresh coat of paint and made sure to purchase American Home shield for larger projects like replacing the HVAC unit.

What was the outcome?

Current tenants are looking to buy soon and minimal updates will need to occur prior to sale.

Lessons learned? Challenges?

I learned as I went with this property and that always presents some challenges. I learned that having great tenants and a great network of industry professionals, contractors, realtors, etc. can make the home buying process and being a landlord a pleasure.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Veterans United - Lender
Jessica Thomas - Real Estate Agent