Living Mortgage Free with a VA House Hack

[Michael Glaspie]

Investment Info:

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

Purchase price: $215,000
Cash invested: $1,450

House Hacking a triplex while using the VA Loan to secure the property at 0% down. Negotiated for $3000 in closing and $8500 in repairs with both additional units occupied on closing.

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

Living mortgage free while acquiring an asset is the way to go. I will continue to use this strategy as long as the VA is around.

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

An off-market deal was brought to me by my amazing teammate. I was able to negotiate with no other competition.

How did you finance this deal?

I used the VA loan and negotiated for majority of the closing costs.

How did you add value to the deal?

I am house hacking. I also purchased it $10,000 below the appraised value. I will do interior renovations as the property appreciates over time.

What was the outcome?

A great deal! Rinse and Repeat

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

Five Pillars Realty Group located in Fayetteville, NC has every piece of the puzzle for turnkey investing. Property management, attorneys, contractors, lenders, and the most amazing agents. I put my money where my mouth is (shameless plug)