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Updated over 4 years ago on . Most recent reply
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Looking for beginner advice with a unique situation.
I just retired from the military in November and I am ready to expand my investing. I have zero debt outside of one mortgage on a SFR in Las Vegas that I currently rent. I have zero ties to any towns for at least a year because my daughter is doing distance learning for this entire school year due to Covid. I have access to VA loans, 20k I'm willing to use on potential down payments, and my wife and I have 720+ credit scores. I already have enough income to dedicate all my time to real estate right now. I am almost done with "The Book on Rental Property Investing." If this was your starting point, what would you do next?
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Find a great deal that needs a little bit of work. Move in with very little down using your VA loan. Fix it up while you live there with the savings and income you have which will hopefully increase the value. Sell it for a tax free profit since it's your primary, or rent it out, move and repeat the process. You can supplement and have additional access to cash by doing a cash out refi or getting a HELOC.