Looking to Reinvent

[Richard Soung]

Hello Everyone,

Seems like there is so much to say but I'll just keep it short and sweet. I'm like the many on here looking to start REI. I have zero real estate experience and I still work my 9-5 full-time (until I am self sufficient). I am still testing the waters trying to do this on the side and I know it will take some hard work, but as a former Marine, I'm ready for the challenge.

My current thoughts are to possibly start flipping to build some capital but end goal would be rentals. My hurdle right now is that I have a home (under VA Loan) and I'm still trying to build more capital / credit to obtain a second property do it all myself, and it's seeming more and more difficult. I had only stumbled upon BiggerPockets doing some random google researching and it has been very insightful. I'm learning everyday and know it will help me on my journey.

Thanks community!

[Mehran K.]

Welcome to BP @Richard Soung! Thanks for your introduction to the community. 

I rented out the 2 spare bedrooms in my home to help me save up enough $$ for a down payment on a rental property. That's one option you have!

Another option is to convert your current residence into a rental and use another loan to buy a primary residence (maybe even apply option 1 above as well!). 

Just throwing some ideas out there!