Northern Virginia primary residence Investment

[Brandon Wagner]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $535,000
Cash invested: $43,560

I purchased my own single family residence. I use the basement as a short term rental. It reduces my personal monthly expenses by roughly $1500 per month.

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

I needed a house to live in and decided house hacking is the best way to advance my investment career

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

On the MLS. Deal was on the market for months. Bought the house $115,000 under initial asking price. My agent and I negotiated some seller credits for repairs as well

How did you finance this deal?

3% down conventional loan

How did you add value to the deal?

I have upgraded some electic wiring, hvac, and cosmetic upgrades

What was the outcome?

Buy and hold. I currently make about $1500 per month in gross rents.

Lessons learned? Challenges?

Continually take action most limitations are in your mind
You don't need to know everything at first. Just make progress towards your goals and you'll know what to do as you progress.