Decent Buy and Hold in Virginia (Military, VA loan)

[Jared Kampschroeder]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $117,000
Sale price: $150,000

Lived in while serving in the Navy, moved when wife and I both finished enlistment.

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

We were looking for a place to live and this was the best deal in the area at the time.

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

We used a VA loan to secure the house, paid full price.

How did you finance this deal?

VA loan

How did you add value to the deal?

We knew market prices were going up steadily and simply waited it out.

What was the outcome?

We sold the house and were able to put about $11,000 in our pocket.

Lessons learned? Challenges?

We should have held on to the property longer. We rushed in to a business deal and moved away too soon. We could have kept it and made significantly more off of it.

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

It's been years now. Our first agent tried selling it for weeks, maybe months to no avail. It was only after she was receiving a promotion that she passed our case to another agent that sold it in a week. Wish I could remember his name. I'll update this if I find it.