New to investing with 1 rental (help!)

[Anthony Montances]

Hello all!

I’m brand new into investing and i am trying to get started but don’t know what direction i should take from here. First off i am in the military and come August I’ll be going overseas for a year. At this point i purchased a home back in 2017 little bit about the house it’s a 3/2 1200sf single family home in San Antonio Texas purchased at 155k with a mortgage of 1125 a month and thats not factoring what the new rental insurance will be. I’m guessing a lot lower then with a traditional insurance policy. Now my property manager says i can rent it out for 1395 a month and i pay them %10 percent for rental property dues. At this point, now that I’m leaving for a year and moving I’m trying to figure out if i can brrrr this property and try to get another property before i leave? In 2020 i won’t be in Texas anymore but i would like to buy more properties here because it seems like it’s a buyers market. In 2020 I’ll be moving to Denver with my family. At this point I’m stuck on what i should do or what direction i should take, i just want to make sure i don’t make any mistakes before i take a chance with the brrr strategy. If someone can point in the right direction that we be great thanks guys!

[Brian Garlington]

@Anthony Montances

I would guess you still have some VA Loan entitlement left. If I were you, I would immediately buy a duplex with your VA Loan where you are right now and house hack it. If you bought your current property in 2017 then you have already satisfied the 12 month occupancy requirement. Move out of your house and into the duplex that you buy and of course put a renter in the house and on the other side of the duplex. I don't know that you need to notify the lender that you will be moving to Denver with new orders next year by the way. In fact, i wouldn't even bring it up UNLESS THEY ASK. Find a GOOD property manager...not just the first one who came along and get some piece of mind in knowing that when you move to Denver you will have your salary, PLUS 3 rental units that you are getting money from.