Our second SFR

[Cindy Craft]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $114,800

This was my first home bought in 2018 purchased with a VA Loan. My husband also had a home purchased by a VA loan when we met, he eventually moved in with me and we rented his home out. When my husband and I moved to a larger home after our daughter was born in 2022, we decided not to sell and rent this one out also.

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

Our first SFR was a fun and very successful project. We were very excited about expanding our rental business and passive income!

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

This home was originally purchased as my primary residence prior to my ever researching real estate investing.

How did you finance this deal?

I used a $0 down VA Loan to purchase this home.

How did you add value to the deal?

We increased curb appeal, added a nice split rail fence, new floors, and rented it out with all appliances, washer, dryer, and microwave included. I know many people would not agree, but we also chose to allow pets with a hefty pet deposit. My husband and I met at a dog park and our pets are our family. We did not want to deter potentially great renters because of their pets. With proper vetting, we have had excellent renters, with minimal wear and tear between tenants.

What was the outcome?

Because of the interest rate of the original VA loan, the cash flow of this property isn't as high as our other one. But, it is still cash flowing $250/month

Lessons learned? Challenges?

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

I had a real estate agent when i purchased the home as my primary residence. But, the rental process was done entirely by myself and my husband.