Single family residential opportunities

[Nathan Stanley]

Investment Info:

Single-family residence buy & hold investment in Oceanside.

Purchase price: $560,000

We needed a backyard for our only child!🦮
-Bought as a primary residence Covid (appreciated 90k+)
-Currently house Hacking
-Added A/C and improved airflow layout
-Landscaping improvements (sod, sprinklers, retaining wall, tropical plants, patio ect..)
-Relocated furnace into attic and added a pantry where the closet was.
-Bought VA with less than 10K.
-Thinking about adding ADU back yard🤔
Overall great first purchase with our target goal to refi out to get VA entitlement back and do it again!

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

The safety of our first investment near a military base along with our opportunity to leverage a great program through the VA.

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

Searching for months on end, submitting offers for months on end! After persisting for so long, we were very close to giving up. In fact we did! They came back to us after falling out of escrow!

How did you finance this deal?

VA baby!

How did you add value to the deal?

Our improvements that we made over the time of us occupying the home.

What was the outcome?

So far, a great hedge against inflation!

Lessons learned? Challenges?

-Do retaining walls over a few days! (Back may be stiff)
-Paver bricks can be a pain!
-Looking back i wish we did a yard with less maintenance. (lots of water)
-Epoxy on garage floors looks good, IF DONE RIGHT!

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

Donald Appleberry (Agent) and Jon Lallande (Lender) with crosscountry mortgage made it happen!