New member intro: Central ish Virginia

[David Ebersole]

Hey guys. I'm Dave. New to the forums, but have been listening to the BP Podcast since January of 2022. Finally got on the forums and here I am. I'm a Active Service member in the Virginia Air Guard and looking to expand my portfolio. I currently have two rental properties under my VA Loans and looking to buy a 2-4 plex with my remaining balance and house hack. With where I live, I could buy anywhere between Richmond and Newport News. I love the fact that I'm investing and so far so good. I know not everything will be a home run, but I can retire from the Guard in 3-5 years and am trying to set myself up for retirement. Eventually, I'd like to leave my kids (4 of them) with a home they can live in, or rent out, and have homes for the family to be financially secure after I leave this world.

There is a wealth of knowledge here, and I've gained a lot from listening to the pod casts over the past 1.5 years.  I look forward to potentially meeting like minded people in the area and continuing my investing journey and growing my portfolio.
  

[Steven Foster Wilson]

Hi David, welcome to BiggerPockets! House hacking is one of the most popular strategies you can take and it can be a great way to build wealth and generate passive income, but it's important to have a long-term plan in place. I'd say keep in mind a few things for starters:

1. Work on your numbers - be sure to calculate potential cash flow and ROI. Make sure to factor in all expenses such as property taxes, insurance, repairs, maintenance, repairs and potential rents.
2. Type of property - Choosing a triplex and fourplex is ideal but a duplex will also work out.
3. Make sure to properly screen your tenants at all times. Don't rush into things to secure your investments.

Lastly, be a good landlord and build a certain relationship with your tenants by ensuring that you address all issues and concerns in a timely manner. A good landlord will always keep a happy and loyal tenant all the time. Hope this helps and best wishes to your real estate journey!