Our second rental in California Maryland

[Daniel Beaston]

Investment Info:

Single-family residence buy & hold investment in California.

Purchase price: $245,000

Bought as a primary residence and kept it as a rental.

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

It was an up and coming area that newly built, we knew once it was finished the value would jump exponentially and be comparable to a similar neighborhood that has more expensive homes. Rental rates were much higher than the mortgage as well.

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

New construction

How did you finance this deal?

VA loan

How did you add value to the deal?

We added some newer flooring to give the town home a better look.

What was the outcome?

We manage the property ourselves and we are able to make an additional 450-500/month

Lessons learned? Challenges?

None for this house

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

Agent back in Maryland