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Updated over 4 years ago on . Most recent reply

Omaha Ne first investment
Hello all, I am looking to buy my second home but my first investment property in Omaha Nebraska. I am a SSgt in the USAF(E-5) and currently have a single family home where myself and my wife rent out extra rooms to 2 roommates for a total of 900 per month. I am looking for a deal below market and i have been reading about using other people money or different ways to purchase properties without cash on hand or a minimum down payment, currently i am debt free with the exception of my current house which is a VA loan and has almost no equity due to the fact i just refinanced down to 2.75 percent. I would love to work for someone in the local area for free in my off time from my military job for the opportunity to learn. I am wondering if anyone has any experience who was in a similar situation or recommendations for action steps to move forward. also my credit score is sitting around 800. Thanks in advance for your tips and advice, i look forward to learning from everyone. Also if by chance you are interested in mentoring me please direct message me and i will gladly pay for a meal for us to sit down and talk :D
Most Popular Reply

@Jeffrey Gagnon, have you thought about buying a new primary residence and house hacking that one the way you did with your current house. You could use the VA loan again, would only need one more person to move into your current house, and then you could rinse and repeat. It seems like you have done a good job of perfecting the method. Why not do it again? I have been in that situation before and it is a really nice, low risk way to scale your portfolio. Also nice is the zero down payment again (my assumption is that you didnt max out your VA loan limit).....
Just a thought.