1st home purchase experience- from city life to mountain living.

[Stephanie Rojas]

Investment Info:

Single-family residence buy & hold investment in Kern County-CA.

Purchase price: $219,000

Purchased 2015. Became our 1st long-term rental property Summer 2019.

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

This was our 1st home purchase. We were ready to buy a home and decided to buy when we moved for work reasons.

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

Easy 1st purchase transaction with local ReMax office.

How did you finance this deal?

Walk-in buyer. VA loan. 0 down.

How did you add value to the deal?

We were inexperienced so not too much value at the time. Although most notable was that the sale went through with $10,000 under asking due to it being a VA loan and appraisal value came in at $10k under.

What was the outcome?

Asking was $229k, sale price was $219k. No down because it was a VA loan. Normal 45-day escrow. And a delightful gift card from realtor 🙂

Lessons learned? Challenges?

Wasn’t prepared to live in a place where septic tank is needed. There was a slight delay to our move in date because the sellers needed to install a new one. Otherwise, it was an easier transaction than I thought. Had a good experience.

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

We liked the local ReMax office. Would recommend using a local office in your area. They are much more knowledgeable and give better insight to your situation than out of town agents/lenders.