Single Family Low Money Down Primary Res Purchase

[Evan Staats]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $450,000
Cash invested: $13,000

Bought this single family in Woodbridge to get out of an apartment in Old Town Alexandria and scoop up another property. Nothing major here. Just a solid single family home, well built, in an area that is perfect for long term appreciation due to proximity to DC. It's also less than 2 miles from the Rippon VRE station and in between two military bases. Capturing a large swath of possible renters from military to commuters into DC.

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

Space for pets and a large lot, 2 car garage, well built home, we could live in it for a year and rent it out after

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

Found it personally and we negotiated seller concessions and the chimney to have corrections before settlement

How did you finance this deal?

VA Loan

How did you add value to the deal?

Small cosmetic updates

What was the outcome?

Increasing the market rent for a 3 bed split level home by $700 monthly, rented in less than a week with multiple interested parties

Lessons learned? Challenges?

Do more research on the commute time to DC and I95 high traffic sections.