How Kara’s Home Appreciated By 10% Since Purchased
We connected with Kara to learn more about her background, how she got started with real estate investing, and more! Check out the interview below:
Can I learn more about who you are and your background?
I’m Kara, I am from Los Angeles was in the Air Force for 6 years. After the Air Force, I moved back to Los Angeles with my wife and started to save money to buy a Doorvest home.
What did your previous real estate experience look like?
Prior to Doorvest knew nothing about real estate other than wanting to be involved in real estate.
What were your financial goals at that time?
My main goal was to get started with real estate.
What were your fears before buying with Doorvest?
I was overwhelmed by the number of steps in a real estate investment transaction and I wasn’t sure where to start with the renovations, resident placement, and property management.
Is that why you came to Doorvest and how was your experience with us?
Yes, and going through the process made it feel like having friends by your side to support you.
Before buying the home, how much did you save up for the down payment?
I saved about $40,000
How did you save that money, for example, did you receive a bonus, or set aside monthly savings?
It varied, but for the most part, I tried to save $2,000 per month and any additional bonuses through the year. During my deployment in the Middle East, I was able to save a substantial part of my paychecks which all went into saving for the down payment. All this took about 1.5 - 2 years
How has your experience been with the rental home you own?
It’s been great. When the residents moved out, property management helped connect us with their network of General Contractors who helped upgrade some of our floorings. The process of placing a new resident was seamless as well.
Are you planning on buying another investment home soon?
Yes! Now that our wedding is over we are looking to purchase a second investment home in the very near future.
Since buying your home, how much has it appreciated?
It has appreciated about 10% since I purchased it.
If you were to give some of your own tips, what would you say to others?
Money in real estate is better than leaving that money in the bank where the interest is .01%. Try to look at the bigger picture when it comes to your finances.
I was letting the fear of the unknown, and it was hindering me from making the move. Just continue to do your due diligence, reach out to Doorvest, and ask your questions and they're more than happy to walk you through it.
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