First property - VA loan

[Alex Farag]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $223,000
Cash invested: $20,000
Sale price: $365,000

First property while still active duty.

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

The market was still heating up and we had several friends get in lower than we did. All came out with great deals in the past year.

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

Traditional

How did you finance this deal?

Traditional

How did you add value to the deal?

A lot of sweat equity and learning.

What was the outcome?

Great proceeds!

Lessons learned? Challenges?

I wish we would have kept the property as a long term rental but made a good profit on it. Could have also used a HELOC to purchase our next home since we had built up equity.

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

If you're in Las Vegas, you have to look up Brandy Nixon. Great for military families and veterans!