Sale of personal residence

[Leo Lukenas III]

Investment Info:

Single-family residence other investment.

Purchase price: $353,000
Cash invested: $17,650
Sale price: $471,000

Utilized a VA loan %5 down. Transitioned the family to a nicer area/schools with the intent of staying for a while. We had to move for the military and sold this home which gave us a good amount of equity we are now actively searching to re-invest.

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

The lack of affordable housing in the King County/Seattle area is pushing the population south and driving market prices throughout Thurston and Pierce County. It made sense to buy a home that would see drastically increased appreciation comparative to market norms.

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

On market. Offered slightly higher than asking price.

How did you finance this deal?

VA loan

How did you add value to the deal?

We didn't really do anything to this house. The market was extremely favorable for sellers when we sold.

What was the outcome?

Significant equity gain to utilize for further investments.

Lessons learned? Challenges?

It was a difficult decision to sell this home. In the end, the equity will be better utilized in other deals.

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

Veterans Lending Group