Personal Home turned Rental

[Michael Glaspie]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $140,000

Originally a primary residence acquired through a VA loan. Now turned into a rental in the highly desirable Fayetteville Market.

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

I had bought this deal all wrong. I lived in it for 3 years before I wised up and realized how I could make it a deal.

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

Bought off of the MLS through a broker.

How did you finance this deal?

VA Loan

How did you add value to the deal?

It took 4 years and a refinance in order to make this a cash flowing deal.

What was the outcome?

I still have this property in my rental portfolio.

Lessons learned? Challenges?

Buy right! I bought this all wrong from the beginning. But I have learned many lessons from this one.