Military member new to REI

[John Sides]

Hi, new to the wonderful world! My wife and I am Active Duty in the Air Force with 2 children. looking to invest in our next market we move to or maybe try long distance investing. So far the goal is to stay in 20 years and retire fully when we are done. We live in base housing, but want to use the VA loan to buy our first property and fix it up. I used to be a laborer before the military and I absolutely love Demo'ing a house.

My plan: (would love feedback)

1. Find a team

-RE agent

-Lender

2. Use VA loan to purchase first house (requiring minimal work, but enough to raise value)

3. HELOC current house to buy next property

4. Finish the team

-Property Manager

-Contractor

5. BRRRR and scale

[Denzil Dwelle]

@John Sides  Welcome to the community.  

Have you thought about using your VA loan to buy a multifamily and house hack it, or are you going to stay on base? This would free up cash flow to speed up your acquisitions of additional properties and give you a rental right out of the gate.

I am using my VA for a triplex, where we will live for a year and then buy a house (using FHA) to live in for the long-term.