Primary Residence to Rental. Military

[Brooks Bowden]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $143,010

Bought SFR as primary residence and began renting it out with a property manager when I had to move to another location

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

I became interested in real estate investing after buying the house and thought this would be a easy transition into it.

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

Found online through realtor.com or zillow

How did you finance this deal?

Used a VA loan

What was the outcome?

Everything is working out fine so far, good renters and good property manager. Unfortunately the taxes went up about $200 a month this past year, so I'm not making as much cash flow as before.

Lessons learned? Challenges?

Found issues with water and septic early on after buying the house. Prompted me to learn more DIY and how to assess a house better for myself and questions to ask an inspector.