Primary Home, 2016, Not much of a deal!

[Joe Crupi]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $194,000
Cash invested: $60,000

First home ever purchased. Home was bought to be primary residence, so never was intended to be a rental. Of course, bought it at the height of the market so no built in equity. Have never cash flowed much, and every year the taxes go up while the rental income doesn't increase much. Luckily the current market has increased the value to around $265k, and currently working to get a cash-out refi to use for purchasing next property.

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

Was going to be primary home for family to live in.

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

No negotiating in San Antonio in 2006. Properties were going so fast you had to put in offer once you saw the, or they'd be gone in hours!

How did you finance this deal?

VA Loan

How did you add value to the deal?

N/A

What was the outcome?

Still own....equity now built up due to renters and putting more of my own funds into it. Working to cash-out refi currently.