Clovis House
This house was purchased on 1 Nov 2016 for $159,990 with a VA loan. During the pandemic, he took advantage of the loan rate environment in March 2021 and used a VA Interest Rate Reduction Refinance Loan (IRRRL) to reduce his interest to 2.25% for a 30-year mortgage. Net cash flow averages $500 a month and is slightly higher than average for the market rents due to the amenities provided. The property was initially “house hacked” over a 3-year period while Eric lived in it. He did a complete live-in flip, minus the kitchen, at $30,000 renovation costs which significantly increased rental desirability.