2nd SFH using the VA assumable loan
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $245,000
Cash invested: $15,000
Contributors:
Keith Andrews
My 2nd Purchase while using a VA assumable loan
What made you interested in investing in this type of deal?
I wanted to find a 2nd property to invest in that will cash flow for the rest of my life but without putting a big down payment for it
How did you find this deal and how did you negotiate it?
Keith Andrews found this deal for me in San Antonio Texas while living all the way in Colorado Springs!
How did you finance this deal?
VA Assumable Loan
What was the outcome?
While the listed price of the house was $245,000… I was able to purchase this future CASH COW of a property with only 15k cash to close! This deal would have normally been a 20% down payment of 245k which is $49,000…. But since I used the VA assumable loan, I was able to purchase a quarter million dollar property with just 6% down. Not to mention, I assumed a 3.25% interest rate from this house as well! All real estate investors know that we most likely will never see interest rates in the 3s!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
For anybody living in the Colorado Springs area, Keith Andrews is and should be your only guy to work with! He introduced me to this property in San Antonio Texas while living all the way in Colorado Springs! If that doesn’t tell you how GOOD he is at finding these properties for you… I don’t know what will. He is and should be the only agent that you want to work with if you live in the Colorado Springs area!
