2020 New Build Buy, Hold and Long Term Rent

[Nicholas Cavato]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $270,000
Cash invested: $20,000

Current residence, will be renting out long term starting March 1st, 2025

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

This was our families initial home purchase after renting for a number of years.

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

Had the help of David Armenta of Armenta Realty, who walked us through the process and taught us the importance of our first home purchase.

How did you finance this deal?

VA loan

How did you add value to the deal?

Updated backyard with artificial turf, painted entire exterior of home, replaced carpet with vinyl planks.

What was the outcome?

Will be renting out long term beginning March 1st, 2025!

Lessons learned? Challenges?

I bought this residence with my VA loan but realized I should have used either conventional or FHA due to the low cost of the home. I plan on holding this home long term due to the low interest rate (2.75%) and renting it out long term to cash flow and build equity simulataneously.

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

David Armenta of Armenta Realty