Second VA loan acquired home

[Solomon Morris]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $223,000
Cash invested: $12,000

Another property acquired with VA approved financing! 4/3 SFH for 0% Down and minimal updating to appease my beautiful wife. We Airbnb/rent 2 of the empty rooms throughout the year to offset our mortgage.

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

Military PCS move! I made it a mission to buy whenever I moved late in my military career

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

My wife found it on the MLS. Negotiations were not intensive. There were a few things we negotiated concessions for and just pulled the trigger. Our property inspector missed a critical malfunction with the refrigerator that forced us to replace it but whatever! Bought a new one at home depot

How did you finance this deal?

VA finiancing. Love it

How did you add value to the deal?

We had the plan of renting out the 2 extra bedrooms to help offset our mortgage. My wife works from home allowing her to manage the efforts as she pleases.

What was the outcome?

Acquired our 4th deal in a great Neighborhood close to where I work.

Lessons learned? Challenges?

We utilized a new bank local to the area to obtain financing in order to get the best rate possible.. Sometimes that isn't the best idea. Financing didn't come through literally until the night before! I wasn't too worried but it just seemed the mortgage company wasn't as organized as other financial institutions we have utilized before.