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Updated over 4 years ago on . Most recent reply

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22
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Sung Yu
  • Rental Property Investor
  • Atlanta, GA
12
Votes |
22
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Two months to find and close my first property

Sung Yu
  • Rental Property Investor
  • Atlanta, GA
Posted

Good afternoon, newbie here. 

I am looking to invest in my first rental property in WA state (Thurston/Pierce County close to JBLM, WA) with two months left before I move to another military installation. Considering limited time, I am thinking house hacking option with the VA loan is unlikely to work - does that only leave me with conventional loans to purchase strictly a rental property with a conventional loan? I am looking to spend 20k on my first investment but considering the area and having to use conventional, I would most likely need to borrow additional money to cover the down payment. If anyone is local to the area or have a military background, I would appreciate any advice as what you would consider under these circumstances. Feel free to reach me if you'd like to connect!

Thanks in advance

Most Popular Reply

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1,059
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541
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Kevin Hunter
  • Rental Property Investor
  • Carlisle, PA
541
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1,059
Posts
Kevin Hunter
  • Rental Property Investor
  • Carlisle, PA
Replied

@Sung Yu, what is your reasoning for buying a rental in an area that you are leaving in two months?  Have you considered buying in the area that you are moving to?  I think that might make more sense for your first purchase.  Is there  something I am missing?

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