First SFH Buy and Hold

[Tristan Walton]

Investment Info:

Single-family residence buy & hold investment in Tucson.

Purchase price: $286,440
Cash invested: $11,000

Current residence with a VA loan and expecting to cashflow around $300-$400.

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

It was cheaper to buy than rent for the short time we were in Tucson. We originally wanted someone to pay down the mortgage to sell the home in the future. Didn't think too much about cash flow or appreciation. Wanted to use OPM to generate equity.

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

Found it with our realtor. Only negotiation was adding blinds to the home for free.

How did you finance this deal?

100% Financing only paying closing costs due to VA eligibility

How did you add value to the deal?

N/A

What was the outcome?

Currently on the market looking for tenants.

Lessons learned? Challenges?

Buying a new home is good and bad. Good because not much capex to worry about due to home warranty and age of appliances. Bad because often times builders are not willing to negotiate the price at all.

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

I worked with Anna Blue in Tucson. She was very professional and spent a large amount of time with us as we navigated the area.