Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago,

User Stats

33
Posts
7
Votes
Tony Ho
  • Wholesaler
  • El Paso, TX
7
Votes |
33
Posts

Buying my first sfh

Tony Ho
  • Wholesaler
  • El Paso, TX
Posted

I am in the process of purchasing my first property! 

I want to use this property for house hack with a room. But my concern is i have 2 small kids. Is it ok to house hack with 2 children in the house? 

I am using VA loan to finance this property. This is my first time and my first step in to real estate investment. So far i have faced quite a few challenges, mostly from my wife and her parents. They don't believe in real estate investing and think that i'm wasting my money.

So this is my plan. Once my 1 year is up, i will rent the whole house out and use my va loan again on another property and keep this going until i have used up all my va benefits ($417k). By then i should have 2-3 rental properties. But my concern is, when i start on my 2nd purchase(using my va loan) the bank might ask me how am i going to pay for 2 mortgages. Can i show them a lease agreement with a renter from my first property?

I know this is a slow process, but I really want to build passive income and spend more time with my family.

Anything in my plan that might raise questions? Anything I can do to improve my plan? 

Loading replies...