Military Deployment >> Multifamily Rental Investing

[Daniel Clark]

Hello BP, I've found myself in a rather fortunate predicament and could use some guidance from experienced investors.

I'll be coming home from a 10-month military deployment with approximately 100k tax free income in the bank.

I've been feverishly educating myself on all things real estate investing and I'm confident that it's the best investment vehicle suited for me.

There are a lot of options on the table, so here are a few parameters:

- VA Loan eligible, but...

- NYC resident with NYC residency requirement for work

- Focused on OOM investing (particular interest in Rust Belt for a variety of reasons: Pitt, Cleveland, Cincy etc.)

- Student loans paid off. Zero debt overall and credit in good standing (thank you Uncle Sam)

My first instinct is to house hack with the VA loan, but with the residency requirement for work, the NYC market severely limits me from finding a deal that makes any sense. 700k+ cash flow negative duplexes in Staten Island don't do the trick for me!

If I put off using the VA Loan until it makes sense (perhaps after a correction to the NYC market), my immediate plan would be to find a cash flowing 4-plex in the Mid-West and BRRRR it. I also have a very solid biz partner which could help speed up the scale process.

What would you guys suggest? How would you get started in my situation?

Thanks and exited to join this community!

Best,

Dan