First house purchase: Buy and Hold 2011

[Nicole Frey]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $670,000
Cash invested: $100,000

Was primary residence at time of purchase. We house hacked the carriage house as well as a bedroom in the main house as we settled into owning our first house.

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

Built our first house purchase.

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

Loved the neighborhood.

How did you finance this deal?

VA Loan

How did you add value to the deal?

Opted for all high end finishes.

What was the outcome?

Love this house and hope to move back in someday.

Lessons learned? Challenges?

High end houses bring high maintenance clients. House must be kept in mint condition.

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

No.