Spokane WA Primary Residence with VA Second Tier Entitlement

[Evan Gross]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $239,000
Cash invested: $5,500

Due to work moving me to Spokane area for over a year, I was able to use my VA second tier entitlement to buy a new primary residence in Spokane, WA for $5500 down.

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

I was living full time in the area and had the ability to use a low down payment loan.

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

Agent found on MLS

How did you finance this deal?

VA Home Loan - Second Tier Entitlement

How did you add value to the deal?

New HVAC and furnace, new kitchen cabinets, repaint of interior, exterior paint work, window treatments, added curtain and misc. small items on the interior of the house.

What was the outcome?

2 roomates 15 days after closing began the house hacking process. Made them a good deal to get things flowing quickly - my cost monthly is currently $450 as I rent 2 of the 3 rooms, the third being my own as this is still my primary residence.

Lessons learned? Challenges?

Next time I purchase an older home, I will pay a professional contractor to inspect plumbing and electrical in addition to the standard home inspection/home inspector.

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

Agent. Agent was good, still looking for great.