Taking the First Step

[Dillon Hutsell]

Hi everyone, I’m from Independence Missouri, 22 years old and getting out of the military very soon. I’ve always wanted to get into the world of real estate, however i’ve never dipped one toe into buying and renting out homes. I think it’s because I don’t know where to start or even on how to buy one. Here is what i’ve gathered so far.

- Get a good interest loan while putting 20% down on a house

- live in it until you save another 20%

- rent it out and repeat

My question:

Can I even rent a place out and keep getting loans for the next house aka good debt? by doing that process?

I know there’s many methods but I think this is the simplest one. If I’m missing a step or clueless please let me know.

[Joe Funari]

@Dillon Hutsell I am a fellow veteran, realtor, and investor. I would suggest you use your VA Guarantee (VA Loan for short) to purchase a home. The VA guarantees the loan. Thus, no PMI. Also, you do not have to put any down payment. VA requires you to live in the property for a year. Then you can repeat the process. Note, you can use your VA Guarantee over and over again. There are some nuisances to the strategy I mentioned. So I recommend you reach out to a VA approved lender that is a fellow investor. @Andrew Postell is a fellow investor, veteran, and lender that fits this bill. Worth reaching out him directly to discuss your options. I would also suggest you look at purchasing a multifamily and live in one of the units to satisfy the VA occupancy requirements. That way your cash flowing the other unit while you live in the other unit. If you want to purchase in the Dallas/Ft. Worth area let me know. I help other veterans/investors purchase here. Hope this helps. 

[Hamp Lee III]

I'm active duty Air Force with four properties. Three are VA loans.

Using your VA loan benefit is a great way to get started.

Hit me up if you want to learn more.

I wish you all the best.

[Jonathan Greene]

As others have said, it's all about your VA benefits which you can eventually use on multiple properties. When you get back, go to local real estate meetups to get comfortable with what other investors are doing and meet some veterans who invest, there are a lot of them! Then find a reliable VA lender that can help you max your benefits in the best way.