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Updated over 5 years ago,
House Hack with new job
In an effort to boost my path to financial freedom I requested to switch roles at my current job. Within the next 30 days I'm hoping to switch from an office based employee to one working across the country with our clients. This change will triple my current income and give me the money I need to invest in properties.
I recently came off a deployment and can now use my VA Loan. I'm considering using the loan to buy a 3-4 bedroom home and rent out the other rooms (house hacking). The issue I'm running into is on the surface it looks like the houses are either in great shape (i.e. won't allow me to pull out a lot cash during the BRRRR) or the houses are so run down that I wouldn't be able to use my VA Loan.
I feel like it's still worth buying a place and renting the rooms as opposed to throwing my money away on a cheap apartment for myself. Even though I would potentially not be able to pull a larger amount of money out of the deal when I go find the next deal, do you think I should pursue this route?
FYI, I'd have to stay in the place for one year anyway before I could refinance and use my VA Loan again.