Military Move Investing in Omaha, NE

[John Payne]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $290,000
Cash invested: $25,000

Like many military investors, we typically buy properties in each duty location (if possible). We paid $290,000 (10k under asking) on a VA loan where we lived for 3 years with the plan to fix it up over those years and rent it out. It rents for $3000 every month, and with an appraised value of $375,000 we refinanced using a 1st Lien Position HELOC strategy to pay down the balance MUCH faster while have equity accessible to take advantage of opportunities.

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

Military moving / House Hack Strategy

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

MLS through a buyer's agent

How did you finance this deal?

VA Loan and refinanced into 1st Lien HELOC

How did you add value to the deal?

Added new bathroom in rough-in area which added an additional 70 square feet, added new bedroom to ample existing space as a mother-in-law suite, and refurbed the en suite. Converted 4 bed / 3 bath to 5 bed / 4 bath

What was the outcome?

$3000 per mont gross rent with $400 in cash flow.

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

Highly recommend agent: Karen Jennings
Property manager with Action Management: Craig Jungjohann
Insurance with Farm Bureau: Matt Guzinski
And our HELOC refinance with First Savings Bank: Anthony Rushing

I don't recommend going directly to Anthony Rushing, but I highly recommend signing up with Michael Lush's Replace Your Mortgage program to get all the ins-and-outs of the strategy. I have an affiliate link if you want to request it from me to let 'em know I sent you. DM me