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Updated over 5 years ago,
First Time Investor - Texas Market & VA Home Loan
Hey im Fairly new to real estate and investing so forgive me if im all over the place just looking for advice on buying my first investment property . A. littler about myself im 30 Have a decent paying job in NYC making 3200 a month with two raises within the next two years i own a one family property that i using the fha first time home buyer program i currently pay a portion of that mortgage and live in the basement and rent out the first floor 400 from me and 1500 from the renter PMI. on that property will be paid off within a year and a half . Im also a veteran who qualifies for the VA home loan which i have obtained im looking to buy possibly a multi family rental property in a military town in san antonio texas or the surrounding areas with this va home loan if things are difficult buying that way seeing as it has to technically be your residence i would like to invest in the houston area or surrounding cities ( tomball , katy , cypress) seeing i have family there who own property there already and can advise me i would have to co sign with a family if i go that route though since i used the program listed above ( fha ) . Any advice would be helpful ! here are some of the questions i need answers to thanks again !
1.Does it make sense going half on simply a one family residence ( profit wise )
2.what are the best markets in these areas as far as rental income is concerned
3.since i am looking to rent to a military family in the event i use the va home loan what are things i should know going that route
4. if you need any other info regarding my situation feel free to ask thank you