New Investor near Fort Lewis, Washington

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New Investor near Fort Lewis, Washington

Brock Salgado
Member since 2018 路 16 posts 路 15 votes

What's up y'all, my name is Brock Salgado and I'm new to BiggerPockets and real estate investing. I'm currently in the Army and I'm looking to get started investing in the Olympia to Tacoma, WA areas while stationed at Fort Lewis. I have no real niche selected although I've been researching for a little while now and am leaning towards purchasing a duplex near the base or value-add while living in a single family, perhaps to rent to other servicemembers after my tenure there. I'm certainly still figuring out my plan but I'm looking forward to connecting with y'all and learning more as I go. 

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Daniel Nobile
Real Estate Broker 路 Seattle, WA 路 Member since 2018 路 46 posts 路 75 votes
4y

Hey Brock, welcome to BP! & thank you for your service! House hacking a small multi family or a SFH with an ADU is a great option in the locations you mentioned. Are you planning to use your VA loan? Buying a property for 0% down and not paying PMI is huge! I'm active duty also & currently house hacking my first property in king county. Happy to chat some more!

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  • Daniel Nobile
    Real Estate Broker 路 Seattle, WA 路 Member since 2018 路 46 posts 路 75 votes
    4y

    Hey Brock, welcome to BP! & thank you for your service! House hacking a small multi family or a SFH with an ADU is a great option in the locations you mentioned. Are you planning to use your VA loan? Buying a property for 0% down and not paying PMI is huge! I'm active duty also & currently house hacking my first property in king county. Happy to chat some more!

    3Reply
  • Sherief Elbassuoni
    Realtor 路 Bellevue, WA 路 Member since 2019 路 882 posts 路 1k+ votes
    4y

    @Brock Salgado, welcome to BP!

    I like your plans. House hack a small multi-family is a great way to start investing. Small multifamily is just a little more competitive than a SFR with an ADU.

    3Reply
  • Aaron NelsonBusiness Member
    Real Estate Agent 路 Seattle, WA 路 Member since 2016 路 307 posts 路 191 votes
    4y

    Hey @Brock Salgado! Thanks for your service. House hacking is a fantastic way to get started and set yourself up from a financial standpoint. My wife and I own multiple rentals in the Greater Tacoma area, and I have helped a number of investors, including several active duty soldiers, find great house hacks using their VA loan in the Tacoma/Olympia market.

    Happy to chat whenever you feel ready to get started! The market is very competitive and it definitely helps to have an experienced agent assisting you. Either way, best of luck with your search. 馃槉

    [email protected]425-880-2580
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  • Doug Spence
    Investor 路 San Diego, CA 路 Member since 2016 路 1k+ posts 路 975 votes
    4y

    @Brock Salgado Welcome to BP! I'm also active duty and I do real estate investing on the side. 

    What you're talking about is called 'house hacking' and its a fantastic strategy to build wealth in real estate while in the military. My wife and I purchased a home using her VA entitlement last summer here in San Diego as a house hack and its been fantastic. We rent out the bottom floor and it covers about 40% of our mortgage payment.

    I recommend finding a rockstar VA lender who is extremely knowledgeable about the VA loan (many claim to be but are not) and find yourself a local agent who understands the strategy you want to use. I'm happy to chat more about my experience if you want.

    Best of luck and keep us updated on your progress!

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