3rd home, improved via detached dwelling unit above garage

[Autumn Whittington]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $302,000

A Single Family residence where I built a 900 square foot detached dwelling unit above the garage. I now rent both units for a great return.

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

Great place to live for my family, naturally a good rental in time.

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

MLS, I offered a escalation clause that got me the house.

How did you finance this deal?

VA loan, $0 down. 2.75 interest rate on a 15 yr loan.

How did you add value to the deal?

Built a 900 sq ft loft above a garage. Detached from the house by four feet.

What was the outcome?

Great cash flowing property as two units in a high demand area.

Lessons learned? Challenges?

Zoning and planning department at the county is a pain in the a$$.