Investment 2 San Diego

[Manuel Camacho]

Investment Info:

Single-family residence buy & hold investment in Lakeside.

Purchase price: $435,000

This home I used my VA loan on. It is my personal home for now. It is a 2/1. My goal is the add another bedroom and bathroom. I have been looking for a good company that is reliable. I am wanting to by August of 2020 have this process done and then rent it out.

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

I liked the fact that the property had potential. I wish I did a better job negotiating the price.

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

I am a local Real Estate Agent and I came across it during home searches on MLS. I didn't negotiate our first offer was accepted and I wish I came at the home with a lower price.

How did you finance this deal?

VA Loan

How did you add value to the deal?

I have been doing minor remodeling work and I plan on adding an extra bedroom and bathroom making it a 3/2 because it is currently a 2/1.

What was the outcome?

I am still currently looking for reliable contractors to get work done.

Lessons learned? Challenges?

Lessons learn is do a better job negotiating the price and make more connections so that when I get more into fix flip or buy hold I will have a good team with me.

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

I did not.