All Forum Posts by: Jacob English

Quote from @Kyle Swengel:

Quote from @Jacob English:

Quote from @Ashley Undercuffler:

It sounds like this really worked out for you! I'm so happy to see someone succeeding in the industry! What are your next steps?

Thanks for asking!  We are looking at ways to buy the land where we will build our retirement home and are also moving to Tucson next summer and looking to purchase a home to live in and then rent out when I retire from the military.

Hey Jacob! When you get out here to Tucson we have a great network of investors here, a few of which are like you and I and have served. I would love to introduce you and let me know if you need any help with info or building your team out here. I hold a non-structured investor meetup out here to get investors together that you could come to if you wanted. I would be more than happy to help out where I can! I have several rentals in Tucson and would be more than willing to help you learn the area and point you in the right direction. Let me know! 

 Perfect, thank you for the invite.  We will be moving out there in the Summer.

Quote from @Ashley Undercuffler:

It sounds like this really worked out for you! I'm so happy to see someone succeeding in the industry! What are your next steps?

Thanks for asking!  We are looking at ways to buy the land where we will build our retirement home and are also moving to Tucson next summer and looking to purchase a home to live in and then rent out when I retire from the military.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $440,000
Cash invested: $30,000
Sale price: $564,000

We moved to the DC area and purchaed the home with a VA loan with the intent to rent once we moved out

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

We needed an affordable place to live while working in the DC area.

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

We found it through MLS listings

How did you finance this deal?

VA Loan with $0 down

How did you add value to the deal?

We added solar panels, low e windows, and replaced the back sliding glass door with french doors.

What was the outcome?

We sold for a profit but had a hard summer with no renters and many expenses. Hiring a property manager helped a lot.

Lessons learned? Challenges?

Make sure to not overextend yourself with a mortgage that you can't cover for very long.

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

Yes we worked with a real estate agent for the purchase, rental , and sale.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $170,000

Single family home in west Albuquerque

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

We moved to ABQ and needed a home to live in and planned to rent it out when we moved away.

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

We purchased a home that was a short sale. The asking price dropped significantly because the home was on the market for over a year.

How did you finance this deal?

VA loan. $0 down

How did you add value to the deal?

Lived in the home and added a decorative structure to the back yard. Added solar panels

What was the outcome?

We have had it rented fo 7 years and plan to sell this summer at a significant profit.

Lessons learned? Challenges?

ppp solar panel worked fairly well for this investment. Renting to friends with a creative rent to own option that was not exercised panned out for both parties in the short and long run.

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

Yes. We worked with Adam Pehrson. He did a great job and helped us buy a great property sight unseen.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $170,000

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

We moved to ABQ and needed a home to live in and planned to rent it out when we moved away.

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

We purchased a home that was a short sale. The asking price dropped significantly because the home was on the market for over a year.

How did you finance this deal?

VA loan. $0 down

How did you add value to the deal?

Lived in the home and added a decorative structure to the back yard. Added solar panels

What was the outcome?

We have had it rented fo 7 years and plan to sell this summer at a significant profit.

Lessons learned? Challenges?

ppp solar panel worked fairly well for this investment. Renting to friends with a creative rent to own option that was not exercised panned out for both parties in the short and long run.

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

Yes. We worked with Adam Pehrson. He did a great job and helped us buy a great property sight unseen.