My First Investment - VA Loan Triplex House-Hack

[Anthony Torri]

Investment Info:

Small multi-family (2-4 units) other investment.

Purchase price: $260,000
Cash invested: $13,000

This was my first investment, a house hack in a triplex. Three, 3 bedroom apartments with plenty of off street parking.

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

I knew I wanted to house hack with also keeping in mind the wealth that would come from holding this property long term.

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

Found this one on the MLS and negotiated it with a realtor.

How did you finance this deal?

VA loan

How did you add value to the deal?

Increased rents slightly to match market rents.

What was the outcome?

This one is still my best performing property which is funny because I purchased it before I knew anything about investing.

Lessons learned? Challenges?

The best lesson I experienced and want to share is to always keep tabs on a target property if it goes under contract. My realtor wanted me to forget about it, but I knew it was a great deal and worth the effort of watching it. Luckily, it fell out of contract and I asked my realtor to reach out again with my offer, and we got it.

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

Bill Feller out of Coldwell Banker Realty in Trumbull, CT is a great man, veteran, and realtor. Anthony Monelli from Cretella, Fappiano & Monelli, PC may be the most responsive attorney I have heard of and can help with closings and probate.