Newbie looking to buy first home and/or BRRR in Vegas

[Darian Tannis]

I am a complete newbie in need of advice!

My name is Darian Tannis and I am currently active-duty Air Force. I am stationed in Germany and have been learning as much as possible about real estate investing over the last few months. I have just gotten an assignment to Las Vegas baby! Unfortunately, the market is in shambles at the moment for buyers.

I am looking to purchase my first home and am very eager to also purchase my first rental property. However, my concern is that I may be biting off more than I can successfully chew.

I have been preapproved for a $350K VA loan. My target price for my primary home is $250K-$300K. I would also like to purchase a possible BRRRR for around $100K. I have $40K saved for a down-payment.

Should I put that $40K towards my primary home and wait for the market to shift before trying to pull of my first BRRR, or should take advantage of the VA loan and put down less to save for the down-payment on a BRRR?

[Darian Tannis]

@David Pere Thanks for the advice! I am leaning towards holding onto the $40K to start my BRRRR career. I looked into house hacking, but I didn't see any properties in the area I am looking at. I will be at a base 35 min outside of Vegas, so I am limited to the Northwest region of the city, unless I want a long commute (and I don't lol). Also, I have a wife and two children, and I didn't love the neighborhoods that I was able to find one or two multifamily units in. I am still considering a multifamily for the BRRRR. I am actually split right now between my first BRRRR being a single or multi-family property. Anyone have advice for that decision?