My current home and first Real Estate Investment

[Tyler Dix]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $175,000

My current home that I plan to rent out for $1,200-$1,500 when I move at the end of the year

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

At first I was just tired of renting and seeing my money go nowhere, but then I realized the huge potential that this property has as a rental when I move.

How did you finance this deal?

I used my military VA entitlement because I had no money to put down at the time.

How did you add value to the deal?

Hurricane Florence caused slight damage to my property and decimated the supply of homes in the area. I repaired the damage to the house myself to save money and the demand for houses has caused the value of the house to climb.

What was the outcome?

My eyes were opened to the potentials of Real Estate Investment.

Lessons learned? Challenges?

Supply and Demand plays a huge factor in Real Estate Value.

[Darious Byrd]

VA loan for my first home as well. Orders after I purchased this home made me have to rent it. Rental rate for the area is $1500 currently getting $1800.

I was not looking to get cash flow as I just wanted to keep my beautiful home. 2.5 years later I have the same tenants in place. These were medium to high risk tenants that my property management company advised me against. 

I went with them though (still do your due diligence). There payments towards the principal balance and appreciation has given me some nice equity. 

Go for it. Learn then BRRR. Connect with me and let's network