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Updated about 5 years ago,
New guy from Northern Virginia
Good Evening ladies and gentlemen,
I just transitioned out of the Marines and looking to start my adventure in the real estate of rental properties.
So I looking at buying my first house in May-August of 2020.
I was thinking of using my VA loan to buy the first one, either a duplex or single-family home with basement that can be rented out. Some type of home that I can rent a portion out. (not many duplexes in northern Virginia that I've found)
Anyways, after a year and half or so of living in it we wanted to buy our second house (using the VA loan and moving into it as our primary residence). Throughout the first year and half, we would be fixing the house as renter proof and doing upgrades.
At around the 2-3 year mark I wanted to take the equity from the first home to buy the third home.
I will have the capital (80-100k) backing these investments in case something goes wrong.
My question for you is, am i going about this the best way? Do you have any suggestions?
Should I put the homes under an LLC or different LLCs?
-Chess