My first VA loan purchase

[Michael Duncan]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $485,000

First VA loan purchase was a condo in Ewa Beach

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

Historic appreciation on Oahu is between 3-4% per year. I realized I could buy a house with 0 down with the VA loan so that I can start building equity. Compounding appreciation on 485k made more sense to me than ~8% on 10k in stocks.

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

I contacted a local military friendly real estate agent. Had to increase my purchase price by 10k over asking price because of a bidding war

How did you finance this deal?

VA Loan 100% financing

How did you add value to the deal?

So far replaced the a/c system

What was the outcome?

Still holding it

Lessons learned? Challenges?

Should have bought 2!!

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

Yes but they have left island.