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Updated over 2 years ago on . Most recent reply

User Stats

12
Posts
1
Votes
Christian Paulson
  • New to Real Estate
  • Hampton, VA
1
Votes |
12
Posts

Help on my next deal

Christian Paulson
  • New to Real Estate
  • Hampton, VA
Posted

Hello Everyone,

I bought a single-family home in Portsmouth, Virginia for $180k utilizing the VA loan back in 2020. Since then I've rented it out for $1500/mo. I utilize a property manager, so I cashflow about $300/mo. I have about $8k in savings, $60k in home equity, and around $15k in my retirement accounts. I would really appreciate guidance on how to go about my next deal sooner rather than later. I'm looking at multi-family homes. I'll be moving back to California soon, so I'm looking at potentially going into markets in other states. I do realize I still have about $420k in entitlement left in the VA loan. Any tips, guidance or mentorship would be much appreciated. Thank you all!

  • Christian Paulson
  • Most Popular Reply

    User Stats

    31
    Posts
    43
    Votes
    Shannon Allen
    • Real Estate Agent
    • Boise, ID
    43
    Votes |
    31
    Posts
    Shannon Allen
    • Real Estate Agent
    • Boise, ID
    Replied

    I'm not sure what services they have in Virginia Beach, in Idaho we work with a company called Mountain West Bank. They will help take what is in your IRA and purchase realestate, its a great way to get into the market if you don't have a huge down payment and don't want to pay the current interest rates.

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