All Forum Posts by: Jonathan Shumaker

@Pat Heidingsfelder

I shot you a DM. Would love to talk more.

@Susan Maneck

I appreciate the advice.

I'm actually the one in the military. I'm a reservist and don't qualify for a VA loan for another 4 years which is what we're gonna use when we build our dream home. I'm starting to do some research now on the FHA loans and house hacking strategies though.

Thank you so much!

@Tamara Alston I know a great property manager in Biloxi, MS. About an hour and a half from there. I’ll ask her if she does properties that far away just in case you’re interested?

Hello everyone!

My wife and I live in the Biloxi, MS area on the gulf coast. We don’t have much money saved up right now but we’re making progress.

I've decided to use the BRRRR strategy to build our portfolio starting once we've got enough money saved in an emergency fund.

My concern is this,

Currently we’re renting our house for $800/mo

And after insurance and other bills, were paying $1200 a month to live here.

We're thinking about buying a fixer upper house in the $100-$130k range with an ARV of $165-$180k. Using traditional 30 year fixed financing.

If we save $30k for a down payment, I'd rather use that money on my first BRRRR.

I’m worried if I do this, after refinancing, my debt to income ratio will hurt my chances of getting a good mortgage on my own home.

What are the pro’s / con’s of buying our home before/after our first investment property.