BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated almost 5 years ago on . Most recent reply
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New here. Looking to actually start investing and making money.
How do I actually start investing and finance deals, renovate them, and use the method above in real life instead of just listening to people talk about it..?
Really new here, so thanks in advance for the help and understanding!
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@Jacob, that question could potentially require hours to answer, there are so many strategies/tactics. That being said, @Ashton gave a decent answer. Utilizing your VA loan to house hack a duplex, triplex, or fourplex is a GREAT way to jump into real estate investing because it isn't less "scary" since you're buying a primary residence. It also carries less risk because you're living their anyway, and your BAH should be able to cover your monthly payment even if your tenant moves out.
There are a lot of benefits in there. I will say that a lot of lenders are tightening up their lending requirements so you need to ensure you have solid cash reserves, debt-to-income ratios, and credit history to make yourself more competitive for financing (and good terms).
I would be happy to talk with you, either of you, and help in any way possible. There are some pretty awesome military REI communities out there, and I love connecting service members to peers who are already doing what they want to achieve!