Hello! New member interested in REI from Dayton/Cincinnati Area

[Brandon W.]

Hello BP Community! I recently found BP through podcasts and it is exactly what I’ve been looking for. I’m 28, finished grad school in 2015 and have been working full time for the last few years. In the past 3 years it’s become blatantly obvious I just can’t swallow the idea of working 40 hrs/week, 52 weeks a year, for the next 30+ years to simply retire and then explore other life opportunities at the ripe age of 60. The last few months I’ve been addicted to the thought of FI and early retirement and all the opportunities that come with it. So onto the questions.. I have roughly $10-15k of investable money that I’m comfortable using to explore new opportunities. I’m not sure how exactly I want to use it yet but I know it will be REI related- flipping, rentals, etc. the dilemma is I think I’d like to move south in the next year or so. I’m currently located in Dayton Cincinnati but always loved the southern climate. So what would you do if you were me? Can’t decide whether I should save more before moving to get a good investment property later or try to find something now? Is $10-15k enough to do anything with now? I don’t have any debt other than my current mortgage. Also should note, I’m a veteran so I do have the VA loan I could use to put $0 down. Maybe get a property with $0 down VA loan and use the $10-15k to use to rehab? Im no contractor but I’m decent with general paint, plumbing, electrical, etc. Really not sure what to do here. Appreciate any advice you have. Happy to be here and excited to get started on this journey. Definitely planning on attending the next meet ups in Cincinnati and Dayton. Thanks in advance! Brandon

[Darrin Carey]

@Brandon W., Welcome to BP, you'll find an energetic group of people here with many of the same goals you have.

Looking at your question. First you need to continue to increase you investing capital. 10-15k is a great start, but it goes quickly. And also, keeping in mind your desire to move south.

1. Keep learning (obviously)
2. Potentially wholesale some deals. The practice here will transfer easily, and serve you well wherever you are.
3. Take advantage of the VA financing to buy a minor fixer you can live in, and fix up until you are ready to move. Then you can either sell it for a profit, or refi and keep it as a rental. There are VA limits for owner occupancy, and if you already have a VA mortgage. You'd also have to consider selling or renting your current house.
4. There are other things you can do with that amount of capital, but these two seem to fit your stated goals best.

Feel free to give me a call if you want to chat.

You should check out the local meetup too, you'll find a bunch of locals (and vets) that are already actively investing. https://www.biggerpockets.com/forums/521/topics/59...