Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 9 months ago,

User Stats

3
Posts
3
Votes
Jay An
Pro Member
3
Votes |
3
Posts

New to RE Investing, Looking for Advice

Jay An
Pro Member
Posted

Hey everyone,

I've decided to start investing in real estate to diversify my investments, with a long-term goal of creating generational wealth for my family. Hoping to do some networking and learn more about the pros/cons of investing in the VA Beach area.

Background:
I have purchased and sold a primary residence before, but am trying to learn the ins and outs of purchasing for investment purposes. My plan is to purchase single family homes/townhomes for long-term rental, and benefit from appreciation over decades. I have a pretty flexible schedule, but wouldn't be able to become a full-time property manager, so I may be looking at hiring one.  I'm also trying to keep my eyes peeled for properties that require some rehab (kitchen/bath/flooring/etc).. not major projects.

Details: 
-I have set aside $350k of expendable cash, and I'd like to leverage this. I can add to this in the future, but I am setting this as a limit as I get my feet under me.
-I am eligible for a VA loan
-Generally looking for homes <$400k ARV
-Single, no dependents, currently own no property.

1-year goal:
-Purchase 2 properties intended for LTR. House Hacking via VA loan and 2nd home are on the table, but I am not limiting to that.

3-year goal:
-Look towards multi-family property or opportunities to build ADUs. At this stage, I hope to have enough experience, and the network to be able to accurately estimate total expenses, allowing me to move towards bigger projects with bigger potential gains.

Any advice on ways I can move forward with my goals? Any tips for someone starting out that you wish you knew? Aware of any networking events/groups I should try to participate in? 

Thanks in advance for any advice!

Jay

  • Jay An
  • Loading replies...