VA home loan

[Jacob English]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $170,000

Single family home in west Albuquerque

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

We moved to ABQ and needed a home to live in and planned to rent it out when we moved away.

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

We purchased a home that was a short sale. The asking price dropped significantly because the home was on the market for over a year.

How did you finance this deal?

VA loan. $0 down

How did you add value to the deal?

Lived in the home and added a decorative structure to the back yard. Added solar panels

What was the outcome?

We have had it rented fo 7 years and plan to sell this summer at a significant profit.

Lessons learned? Challenges?

ppp solar panel worked fairly well for this investment. Renting to friends with a creative rent to own option that was not exercised panned out for both parties in the short and long run.

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

Yes. We worked with Adam Pehrson. He did a great job and helped us buy a great property sight unseen.