Purchased: January 2009
Sold: October 2018
Location: Tracy, CA
Property Type: Condo
Strategy: Primary Residence
Repair Cost: $0
Financing: 0% down using VA Home Loan
Loan Terms: 30-year fixed at 5.25%
Bonus: $8,000 tax credit for first time home buyers based on the 2009 Economic Stimulus Package
I purchased my first home in 2009 when I returned from an overseas assignment, after the 2008 housing market crash. I was not real estate savvy or was I watching the market but the timing could not be better. Until this day, I consider this purchase a blessing.
It was a perfect home: cute, safe and move-in ready! I lived there for 3 years until my next military PCS (permanent change of station). In the next 6 years and 3 duty stations, the condo was occupied by a local friend while I was doing my military duties all over the world. I was very happy that someone picked up the mortgage payment!
In 2018, I returned from another overseas assignment and put the condo on the market so I could purchase another home in the new duty location. The condo was under contract in 2 days and sold in less than 30 days. The sale price was over 2x of the original purchase price 9 years ago.
Return: Infinite. The profit from the sale was reinvested in 4 residential and 1 commercial property.