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Updated over 7 years ago, 09/15/2017

User Stats

5
Posts
2
Votes
Kristofer T.
  • Southern Pnes, NC
2
Votes |
5
Posts

Military guy looking for wisdom

Kristofer T.
  • Southern Pnes, NC
Posted

Greetings everyone,

My name is Kris, I am 29 years old and currently stationed at Fort Bragg, NC. I was told about bigger pockets this past week and since then I've been obsessed with this site and the podcasts. Since joining the military I've moved four times and rented everywhere. After renting a townhouse for almost a year I decided to ask my landlord if they were willing to sell. Fast forward a few weeks I'm now a first time home buyer. I am looking at expanding into the real estate game by buying and holding for cash flow. 

This brings me back to the subject at hand, I need some wisdom for the community. First, I am going to be very transparent so I may get the best advice from you all. 

Cash on Hand: $21,492

Roth IRA: $23,919

Roth TSP: $70,164

Index fund: $25,291

Index 529 Plan: $4,807

Townhouse (VA Loan): $194,000 after VA fees $198,000 at 3.65%. $1281.00 monthly (includes taxes, insurance, HOA). Townhouse appraised at $204,000.

I am deploying overseas in the near future and will be roughly making an extra $1,600 - $1,700 a month on top of what I currently make. I also calculated I will save on the home front an extra $500 (very conservative) - $1,000 a month by me not being at home. 

I have a couple of options:

1) Bank what I've described above and come back with an extra $13,000 - $16,000 cash + current cash on hand. 

2)  Option #1 + bank my index fund as cash (600 per month) = $16,000 - $19,000 cash + current cash on hand. 

3) Options #1 + #2 + bank my TSP fund as cash (560 per month) = $19,000 - $23,000 cash + current cash on hand.

4) All options + Roth IRA (458 per month) = $23,000 - $25,000 cash + current cash on hand.

*these numbers have been calculated based on the idea I would stop these investments for 6 months. 

Any and all feedback is greatly appreciated. I am open to entertain all options and suggestions. 

Thanks for your time and efforts.

-Kris

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