Bowie, MD rental home

[Jacob English]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $440,000
Cash invested: $30,000
Sale price: $564,000

We moved to the DC area and purchaed the home with a VA loan with the intent to rent once we moved out

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

We needed an affordable place to live while working in the DC area.

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

We found it through MLS listings

How did you finance this deal?

VA Loan with $0 down

How did you add value to the deal?

We added solar panels, low e windows, and replaced the back sliding glass door with french doors.

What was the outcome?

We sold for a profit but had a hard summer with no renters and many expenses. Hiring a property manager helped a lot.

Lessons learned? Challenges?

Make sure to not overextend yourself with a mortgage that you can't cover for very long.

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

Yes we worked with a real estate agent for the purchase, rental , and sale.