How do I get to a second property?

[Poe George]

I have a plan to house hack into a duplex or triplex using a VA loan, and will act in the next 90 days. I want to get a portfolio of either single family homes or small multi-families with my goal of 3 properties in two years and 6 in four years.

The problem I have and that is hard to research is how to take that first property and parlay it into the second and third etc. Do I refinance out of the VA loan after a year and use the money to get the second property? Do I do hard money loans to secure them? any advice?

[Craig Curelop]

@Poe George - Use the VA loan for your first one. The draw to a VA loan is that you need 0% down. Because you will be house hacking, you will likely be saving a ton on rent. Everything you are saving for your first year should be to save up for that 3% to 5% down you will need for the second one.

If you can refinance out of your VA that is great... but you will need at least 20% down if you don't want to live there for another year after the refinance.

That's why I would recommend educating yourself, pinching your pennies, and making sure you have that 3% to 5% down payment for house number 2.