All Forum Posts by: Bill Connolly

Thanks for the reply! 

That is definitely what I'm leaning towards. Once I solidify my position in the duplex and feel as though I can pay the remaining expenses, I'll consider changing jobs. Then I'll run into the rush of not being able to refinance. Just a lot of pro/con and risk that I have to really become aware of. 

Absolutely no offense taken at all and I truly appreciate the wisdom here, @Anthony Dooley. These are all the intricacies that I need to learn and hash out. 

I wouldn't have a problem staying with my current job if it didn't eat up so much of my time. I'm an apprentice electrician and it takes me roughly 3 hours a day in commuting and two nights a week of schooling with very little pay. I don't want to do anything that will hinder my ability to get loans, and I also don't want to hold off investing. It's a tricky situation that I'll have to continue to hash out. 

Thank you so much for the sincerity and the time to chat.

Come April, I'll be returning from deployment with a good amount capital to start my investing journey. I would really love to ditch my previous job to be a REA as I believe I can earn more, learn more, and also enjoy work more. 

I initially want to brrrr and house-hack a duplex but I'm concerned that trying to brrrr while changing jobs will stop it dead in it's tracks. 

Has anyone dealt with this or are there any suggestions for getting around these circumstances? Any advice will help! 

Heath,

Thank you so much for the reply. Yeah I was actually considering how the VA loan may not be the best option as I do intend to buy somewhat of a fixer. I will definitely look into the FHA 203k program. I have to do a bit of educating myself in terms the different types of loans out there and what's best for me. Yeah, as I said I'd like to purchase a home that has a rental property attached to it. One thing I am worried about as you had mentioned, is that my wife and I do not make great money just yet. So, I'm concerned I may not be able to get a significant loan to be able to purchase the property I want. But I've yet to start looking into this so who knows.

Whats up!

I am Bill from Long Island, NY. I'm an apprentice electrician in NY, NY. I am getting ready to deploy in a short while and plan on diving into the world of owning rental properties. I will for the first time have enough money to put a down payment on a house that I plan to utilize as a house hack. From there I guess the plan is to save until I can purchase more properties. 

During this deployment, I plan on spending a lot of time educating myself on real estate investing and I am posting this to request any tips/guidance on getting started with my circumstances When I get back, I'll likely utilize the VA loan, if anyone knows much about that. Any tips/guidance would be greatly appreciated.

Thank you.