New Military: invest in hometown or next duty station to use VA

[Dimitri Paspalaris]

Hello all. I am currently stationed in California but my hometown is Jacksonville, FL. I currently have 50k to play with and was wondering should I wait till my next duty station in 1.5 years and save some money up. Next duty station is possibly back out in Hawaii and based on the numbers I have ran I would need more money in reserve to make it work with a VA loan after I finish my tour on the island due to HOA fees that make the property that I want a significant negative cashflow or should I invest in my hometown Jacksonville Florida in the next couple of months? I would like to do a SFH to start maybe a multifamily but the only issue I have with Jacksonville is that the cash flow is like 5-8% including my calculated 5% for vacancy, 5% for Capex, 5% for repairs and 10% for property management. I am evaluating my mortgage rate to be 6% for a 30 year fixed on the investment property in Jax, Florida. Thanks for the help.

[David Pere]

@Dimitri Paspalaris I have heard good things about the Jacksonville market. I haven't done any research personally, and Idk if they are reaching the top of their market...but I've heard good things.

Hawaii is finicky. It is possible to make money on the appreciation game, and even possible to cash flow...it is very difficult though. If you get orders there let me know and I can put you in touch with some solid agents/investors on the island. I'm (unforunately) just finishing up here