Biloxi MS with Military Roommates

[Earl Pecson]

Investment Info:

Single-family residence buy & hold investment in Biloxi.

Purchase price: $95,000
Cash invested: $1,000

3 Bed/2 Bath/1900sqft. Built in 1960s.

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

I had a roommate in one apartment and I had 2 friends that were wanting to move in with me on December time frame. I just thought why don't I buy a house and have them pay me rent. So that's what I did.

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

I wouldn't say I got this house on a deal. The house was on the market for 350+ days. I figured these guys wanted to sell. They listed it at $100k and I just got it for $95k at the time.

How did you finance this deal?

VA Loan