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Updated almost 3 years ago,
New to Real Estate. What made you better ? What did you do wrong?
Hello, I came across the idea because I need to find a place to live soon. I'm currently active duty and once I make rank , I'm getting kicked out of the barracks and into town. With that, I thought why rent , and just save money, when I can utilize a VA loan and earn some money via an investment. The overall cash flow isn't much more (after accounting for mortgages + operating costs ) than if I just saved , but it is, just that much more. Plus it is exposure to what it's like being a landlord. I've ran the numbers on two separate properties and taken numerous things into account from broken water heaters to selling the house and how much I would make overall , and how much I should save should an emergency happen. I would be living in the house as well, (house hacking?) so I would basically be living for free. My question is this: is there anyone who has experience using a VA loan and would be willing to part some knowledge. That, and when you were young in the business, whether you were trying to become a full time real estate investor, or simply becoming a landlord (like I am) to make some extra money, what did you learn? What are things I should be cognizant of? What are some of the things that you didn't do, which would make me better if I did. Thanks for taking the time to read this and I look forward to reading what you all have to say.