Primary home equity play

[Leo Lukenas III]

Investment Info:

Single-family residence other investment.

Purchase price: $237,000
Sale price: $335,000

First home my family purchased. We utilized a VA $0 down loan. Cosmetic fixes and turned into an equity play due to a drive in demand from the greater Seattle/Tacoma population push. We purchased the home for under market value and ended up selling to move to a new SFH.

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

We fell into this equity.

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

The home sat on the market for a while, so my wife negotiated down the price while I was deployed. She did everything.

How did you finance this deal?

VA $0 down.

How did you add value to the deal?

Cosmetic updates to the home. Backsplash, etc.

What was the outcome?

The net proceeds from this deal gave the family a solid financial foundation.

Lessons learned? Challenges?

Should have held the property.

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

Veterans Lending Group.