First home turned rental ignites the REI fire

[Zacharee Carmack]

Investment Info:

Mobile home buy & hold investment.

Purchase price: $195,000
Cash invested: $15,000

This was our first home we purchased in 2014. We used a VA loan and then did a cash-out refi in 2020. We moved in 2021 and rent this home out for $1500 a month which in the current market of Va Beach, VA is on the low end. Because of our success with this unit we plan on looking for more, possibly out of state.

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

This was not bought initially as an investment but seeing what the home could bring in the area its in made us very confident in it's future ability to give us a return.

How did you finance this deal?

VA Loan