Bought with VA Loan to turn into rental property

[Zachary Burgart]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $378,000
Cash invested: $2,000

Bought with VA 30 yr/fr with expectation to pay down the principle to refinance into an investment property loan, so I can move and utilize the VA zero down payment on another house.

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

Trying to maximize my zero down with a VA loan.

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

MLS, real estate agent

How did you finance this deal?

VA 30yr/fr, 5K in earnest money, 4K back at closing.

How did you add value to the deal?

Planning on adding:
-fireplace (personal want, maybe not the best for investment)
-Planning a kitchen update and remodel
-Aesthetics throughout the house
-More hardwood floors

Lessons learned? Challenges?

The closing was held up temporarily due to a lien from the seller that was not disclosed. This was a good learning point on how to navigate that.

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

Realtor- Jacob Murray - Keller Williams 630-207-9810
Lender - Michael Black - Summit Funding 773-426-6798