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Updated over 4 years ago, 05/07/2020
Advice to newly discharged Military member with $15k savings
Hi, I'm David, 25 years old and I'm scheduled to get out of the Military in about a month moving to Bend, OR (very expensive, few STR licenses)
I have $15,000 In savings and would like some advice for a first time home buyer starting out with investing.
I have a very long way to go in terms of learning but I have listened to the podcast for a couple years and just finished reading Rich Dad as well as ‘No and Low Money Down' and have some ideas such as: VA loan a house, use the $15k to add a bathroom and unit downstairs to rent out for a house hack. After a year move out and rent out main area. Rinse and repeat for a couple years for a yield of 2 units a year. Only problem is I'll be newly married and my wife won't want to move more than a couple times and absolutely no room mates in the same direct area.
Or I could use my savings to find the right deal to live in flip and house hack for 2 years to hopefully multiply the month put in?
I would really appreciate any advice on how you more experienced investors would go about managing $15,000 as a first time home buyer. I know there are similar posts but nothing on how someone could best utilize a VA loan option.
Thanks,
David