First investment, using VA loan

[Account Closed]

Investment Info:

Single-family residence buy & hold investment in Evans Mills.

Purchase price: $231,000
Cash invested: $4,800

Contributors:
Michael Ablan

Wife is active duty, so this was a VA loan purchase to live in for 2 years, then rent out when we move. Thanks to Mike Ablan for all the help!

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

Wanted to start investing by using the VA loan to purchase and live in a property that would cash flow as a rental after we move.

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

Friend of a friend is also a military family about to PCS (move to a different state) and was selling their single family home. They wanted a price that didn't make sense as an investment, but because they were in a hurry to buy another house, we put in an offer that made sense for us. Thought they wouldn't take it, but you never know... They ended up accepting our offer!

How did you finance this deal?

VA Loan

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

Mike Ablan was super helpful as our Agent!