Virginia Single Family Home

[Luke Sanderson]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $200,500
Cash invested: $20,000

Small single family home built in 1978. Former owner tried to update by himself but was not very detail oriented. My wife and I have been painting and redoing ceilings and other improvement projects to maximize rental income when we move out in a year or two.

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

Using a VA loan I got a house with a mortgage that is almost half of the rental amount for comps in the area. My wife and I needed a place to live that would allow dogs too.

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

My agent found it through the MLS.

How did you finance this deal?

VA loan

How did you add value to the deal?

Updated paint, redoing ceilings, new deck, new safety features. Considering adding a half bath in the future.

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

Kristin Dailey was our RE agent and I couldn't recommend her highly enough.