New Investor - Mississippi Gulf Coast

[Kevin Higgins]

Hello everyone, my name is Kevin Higgins. I am a new(ish) investor on the Mississippi Gulf Coast. I am approximately 40 years old and a veteran of the US Navy. I used my VA benefits to obtain my BS in Electronic Engineering Technology and I have been working in the defense industry for about 15 years now.

Newish? Well, I used my VA benefits again to purchase a home back in 2012. We lived in that home for close to 4 years, at which time I used those benefits once again to purchase my current home using a second tier VA loan. The first home has been rented for close to 2 years now by the same tenant, and we are soon to sign another renewal. (I hope.)

I have had an interest in real estate for some time now and really got bit by the bug a couple of years ago when I became a land lord for the first time. I have been stalking these forums ever since then, this is my first post. I have listened to BP podcast and attended the webinars, etc. I remain open minded, but the BRRRR model of investing really appeals to me, in SFH or small multifamily. But, investing with little to no money down does not seem as easy as Brandon makes it sound... While I'm listening to him talk about it I feel like "Heck yeah, I can do that. HML, etc.." But, then when I really start to think rationally, it seems like such a long shot..

As of right now I am in search of a local realtor that is investor friendly/smart. I'd like to start to get some properties coming to my inbox so I can do some real analysis and start to get a better feel for the markets around me.

Thanks for listening to me ramble.

[Susan Maneck]

Well, VA loans are pretty darn close to no money down! In Mississippi I've paid cash for most of my homes, but granted I bought them in the Jackson area, not the near the gulf. After I fixed the homes up and rented them, I get a first place HELOC from Wells Fargo which has usually given me enough money to go out an buy my next home. I used to play musical chairs with my HELOCs like I did my credit card balances but this year interest rates are so low I don't think I'll bother.