VA Loan Triplex with conventional refiance

[Randall Peterson]

Investment Info:

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

Purchase price: $210,000
Cash invested: $20,000

VA Loan on Triplex -Househack for 2 years
Refinance to conventional loan after 2 years
Net - $900mo

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

VA Loan made 0 down the easiest part!

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

Original offer was rejected, three months later the owner's agent reach out and after an appraisal saved me $15k it eventually closed at $210k

How did you finance this deal?

VA Loan initially and eventually refinanced with conventional loan.

How did you add value to the deal?

1 unit was unfinished & another kitchen was remodeled
Outdoor living space was expanded and roof replaced

Lessons learned? Challenges?

Personal injury delayed projects by a year but having a tenant made the househack time worth it. I love using property managers!

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

Lender- Steve Campbell, Mountain West Financial (message for #)