Accidental Investment got me hooked.

[Dave Frederick]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $210,000

SFH I originally bought for myself under the VA, and decided to rent out when I moved. This is a long term investment property that got me started in investing, I'm posting it now, as I'm a new member here. This property definitely shows how the long hold can pay off. Prices aren't the same anymore, but this was my first house (at 21) and why I'm here today.

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

Originally, it was just to live somewhere and pay a mortgage instead of rent, to own something.

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

This property was a forclosure that my agent found and helped me facilitate.

How did you finance this deal?

VA loan with no money down.

How did you add value to the deal?

Equity value, I made minor cosmetic improvements, upgraded flooring and bathrooms, paint, etc. Nothing big. Most of the value add came from holding the property.

What was the outcome?

Long term buy and hold that now provides equity I can use, as well as stable cash flow.

Lessons learned? Challenges?

Definitely learned a lot about finding tenants and upkeep.