First investment property

[Kenta Otawa]

Investment Info:

Single-family residence buy & hold investment in San Diego.

Purchase price: $675,000
Cash invested: $9,000

The first property I purchased! I didn't know how to negotiate so I only brought it down $5000 and asked them to repair some damages in the house. I used a VA loan 0% down, $9000 for closing cost and I am currently renting it out room by room and self-managing through aparments.com. This was a 4 bed 2 baths, but I converted a mudroom into a small bedroom and renting it out.

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

It was my first property and wanted it close to where I live. I wanted a multi-family but wasn't pre-approved for a higher loan.

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

I used a realtor I met though an house hacking organization.

How did you finance this deal?

VA loan

How did you add value to the deal?

I converted a mudroom to a small bedroom.

What was the outcome?

I couldn't cashflow by renting the whole house so I am leasing each room with separate contracts and I am now cashflowing.

Lessons learned? Challenges?

Look for a more affordable market, more strict tenant screening.

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

Jackie Jeron, an amazing realtor that goes above and beyond in searching for the perfect property, I still contact her for questions and she is always so helpful!