My first home purchase

[Christopher Schott]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $197,000
Sale price: $274,000

Lived in the house for a year then bought a second home and put a tenant in my first home, which I managed myself.

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

I found it through market research. I negotiated no closing costs to me. I actually ended up getting cash in my pocket at closing.

How did you finance this deal?

I had the benefit of utilizing a $0 down VA home loan.

How did you add value to the deal?

It was purely through property appreciation.

Lessons learned? Challenges?

I wish I never sold the house. I should have kept it as an AirBNB!