Should I buy an investment property now?

[Steven Taylor]

Hello BiggerPockets,

I'm new to the whole real estate business, and I've been trying to figure out how to get my feet wet. I am in the military, and am currently single and deployed, which has allowed me to save up a large amount of cash. I will be returning to the states in a couple of months, at which points I will have roughly 8 months left in the military. I've been thinking that it may be a good idea to purchase a home in the Hampton Roads, Va area to live in for six to eight months when I get back to the states, and then rent it out after I leave the military in the area.

If I were to purchase a home, I would use the VA loan, and then throw twenty thousand dollars into an account to cover any expenses that may come up with this home while renting it out, such as vacancies or something needing to be repaired. This would leave me with north of fifty thousand dollars to cover my own personal expenses as I transition back into the civilian world.

Currently, I have several job opportunities as soon as I leave the military that pay in the six-figure range while I am not guaranteed to land any of the jobs I would say that there is a 90%+ chance I will get one job in particular. I'm not sure if I should err on the side of caution and simply save the money until I am secure in my new job before I start to invest in real estate, or if this is really one of the best times for me to get involved.

Does anyone have any advice for me?

Also, I hope I posted this in the correct form.