All Forum Posts by: Richard Hamm

@Michael Woods I have thought about this same thing. Currently my GF (also a veteran and we are not legally married yet) has our rental property and current residence under VA loans. We have a good bit of equity in the rental and are considering refinancing the rental and buying another property with the equity. This would also give her back her second VA loan eligibility.

I have gone as far as thinking of using my VA loan eligibility to purchase a home and live in it for the first year, then rent it out. It is a loose idea and lots more to it, but just being honest that it has crossed my mind! haha

I just realized whoever approved moved it to the appropriate location. (newb) haha

I though I posted in new members?? What the heck! Please move to appropriate forum, or let me know how to, sorry!

Hello everyone! First time posting here in the BP forums. My name is Rich, and my girlfriend Katie and I are looking for some opinons and different perspectives from everyone. We are 28 years old, and have 2 fur babies, but no human children haha. We both have good jobs, and have quite a bit of income between the two of us. Katie has purchased 2 homes including the one we are currently living in. The first home is currently being rented! Woo Hoo! We have been pretty good with our finances, but with constant personal growth and exploring this website and podcast we want to do more with what we have! Currently I have a job that pays very well and we have an opportunity to make some big changes in our lives for the future. I am away from home a lot of the time and Katie works full time. Hopefully that painted a bit of a backround, and now I can be more specific on where we are at. We are going over different plans of attack, and looking at options, like paying off our current home (which we plan to keep and stay in, but we are always open to options). I will not always have this income, we are assuming for about 3-5 years of doing this job. Okay, here are the numbers you have probably been wanting to know already! haha Our current home mortgage: $279,000 Rental home mortgage: $119,000 Our thoughts currently are to let our rental ride out, it is cash flowing slightly and we plan on increasing rent 2019. Through some rough figuring we have figured we can come up with about $33,000 every 3 months. Currently our though process is to pay off our current home like I previously stated, and here is why we thought of that. I wont be doing this forever, and it is a for sure "investment". We will save ourselves a monthly mortgage, miss out on lots of interest $$, and at the end of my run have something to show for it. (Just for some perspective on why we are thinking this way) We both understand there are lots of different ways to go about reaching financial independence, and even different definitions, that's the awesome part! Also pointing us in any direction of books to read, or anything like that. Alright! So I probably missed a bunch of stuff, and maybe posted in the wrong section haha so please feel free to move this admins, or point me in the right direction. If you have read this far thank you so much! I look forward to our future and interacting with all of you, and thanks to everyone here for such a great source of information and sense of community! -Richard Hamm