All Forum Posts by: Bentley Denman

Thank you all for sound advice! 

Seems the best options are going to be aggressively attack my principle to increase equity so that i can open up a HELOC to put a down payment on another home (a way better deal) in order to rent it out and use the passive income to add to my paying down my mortgage before doing a rate-term refinance to prepare my home to cash flow when I'm ready to rent it out.

A little back story: About a year ago i moved to hinesville Ga, about an hour away from Savannah. I bought my first home using the VA loan for 0% down. I didn't have the best credit so my interest rate was put at 7.125% on a home worth $275,903.00. I currently serve in the Army so i receive $2019 to put towards housing costs. My monthly mortgage payment is $2365. I figured this to be a decent deal at the time considering i only have to pay $349 out of pocket, but i am quickly finding that this was a less than ideal purchase. I am able to put an extra payment on the principle every year in order to chip away at it early on, but i plan on getting out of the military around the back end of 2025. I don't want to sell the house because i like the area, in fact i want to purchase more homes to flip or rent out in the area, but i need to free up some capital. Any creative recommendations to lower the monthly mortgage payment by $500-$700 in the near future or am i going to have to sell and use what i made from forced appreciation to start again?

Side note: we have improved some things around the house to provide forced appreciation.

hello, my name is Bentley, and I am just starting out in the Atlanta market and was wondering what kind of techniques y'all have been successfully applying into this growing area. Im trying to implement the BRRRR strategy. Am I wasting my time or just looking in all the wrong places?