My First Investment - VA Loan Triplex House-Hack

[Anthony Torri]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Torrington.

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

My first home and triplex house hack. This is my best performing property and was purchased before I even knew what Biggerpockets was, before I was a realtor, and before I was a home inspector. This was before the real estate market went crazy, and was able to get this property easily on the MLS.

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

It was very turn key and that is what I wanted as anew guy with no experience.

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

Agent, deal was listed on the MLS, purchased $10k under asking.

How did you finance this deal?

VA Loan.

What was the outcome?

While living here, I was breaking even. After I moved out and rented all 3 units, I was cash flowing. The margins have only increased since then due to refinancing for a lower rate and rental rates increasing.

Lessons learned? Challenges?

TIP: Always monitor a target property until it actually closes. The seller originally accepted a different offer and my agent told me to forget about it and move on. I did keep looking, but I knew this was a perfect house hack, so I kept an eye on this one for any changes. Luckily, the buyer couldn't perform, and the seller took my offer.