Anthony Angotti quit his traditional 9-to-5 career to pursue real-estate investing full time. Here’s the strategy he’s used to balloon his portfolio to 89 units after an initial duplex investment.

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Anthony Angotti

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Anthony Angotti, a successful real-estate investor and founder of TGY Investment Group, knew a traditional 9-to-5 wasn’t for him. 

“I wouldn’t say that I necessarily disliked my job, but I just didn’t really like working for somebody else,” he told Business Insider. “So I was kind of always looking for ways out of that.”

Angotti viewed real-estate investing as his ticket out of the daily slog. The combination of financial independence and autonomy deeply resonated with him. He wanted to put his future into his own hands.

Soon, that motivation would turn into action. 

After attending local meetups, scouring the internet for actionable advice, and listening to an array of real-estate investing podcasts, Angotti mustered up enough courage to pull the trigger on his first investment: a duplex.

“When I started, I didn’t have a ton of money,” he said. “I really didn’t have a ton of experience.”

Angotti purchased the duplex for $155,000 with a simple goal in mind: house hack the property and have the tenant pay for his mortgage and cover the expenses associated with the property. 

For the uninitiated, house hacking is a real-estate investing strategy where an investor lives in one unit (or room) and rents out the other units to cover their expenses/mortgage.

Angotti was able to scoop the property up with $15,500, just 10% down.

Following the purchase, and after some minor repairs, Angotti was able to rent out the unused unit for $1,050. Additionally, he rented the duplex’s detached garage, equipped with two parking spaces, for about $100 per spot.

That initial, successful endeavor set the stage for Angotti’s venture into full-time real-estate investing. By the time he’d completed his third house-hack, he’d quit his traditional 9-to-5 in microbiology.

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Today, Angotti is continuing to broaden his horizons. He currently oversees 89 units and has no plans of slowing down his portfolio’s growth anytime soon. 

Here’s how he’s doing it.

The strategy

Early on, Angotti realized that if he wanted to scale his business, he’d have to employ a different strategy. House hacking wasn’t going to cut it. He had no desire to keep moving from duplex to duplex. He needed more stability. 

That’s when Angotti branched into multifamily apartment investing. The allure of the asset class came from scale, efficiency, and predictability — three factors that weren’t necessarily in abundance when he was house hacking.

In essence, Angotti employs the BRRRR strategy, which is an acronym for buy, rehab, rent, refinance, repeat, to acquire new units and expand his portfolio.

It’s a strategy Henry Washington, a real-estate investor who started with just $1,000 in his bank account, used to build a portfolio of 40 units in just two years. Johnny Andrews, a real-estate investor who oversees 114 units, leveraged the strategy with a non traditional lender to grow his portfolio. Palak Shah, real-estate investor and former mechanical engineer, similarly “supercharged” the BRRRR strategy by using hard money lenders. She oversees 26 units.

When Angotti is sizing up a potential acquisition, he keeps a laser focus on the amount of value he can add to the property. …read more

Source:: Business Insider

      

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