First Rental Property

[Logan Cooper]

Investment Info:

Single-family residence buy & hold investment in Portsmouth.

Purchase price: $219,900
Cash invested: $14,000

I bought this house with my wife between deployments during the COVID era of the real estate market. By taking advantage of the low rates with the VA loan, I have been able to hold a property that cash flows $200 a month. The downside is that tenants miss rent payments and have to take them to court twice. Luckily I have a property manager overseeing the property so my court payments were nonexistent.

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

It seemed like the smart thing to do since it is in an up and coming area.

How did you finance this deal?

I used a VA loan

How did you add value to the deal?

I updated the kitchen slightly with a backsplash and painted the entire house.