Our First SFR

[Cindy Craft]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $112,000

This home was purchased with a $0 down VA Loan, lived in for 1.5 years then turned into a rental. This was my husband's home before we met. When he moved in with me, we decided to turn it into a rental rather than sell it.

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

Thinking longterm...hoping to achieve financial independence.

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

Through research after the home was already purchased.

How did you finance this deal?

VA Loan

How did you add value to the deal?

We kept the property in excellent condition and have made upgrades to it as necessary to attract high quality renters.

What was the outcome?

this property has been extremely successful and is our biggest cash flowing SFR

Lessons learned? Challenges?

Do not listen the sob stories or woes of potential tenants, stick to the rental criteria. Trust your gut.

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

Not in the rental process. The process of renting out the home was done solely by myself and my husband. We listed it, vetted potential tenants, etc. ourselves.