Updated almost 9 years ago on .
Military Investing Questions
Hey everyone! I recently bought a twin-home that I am renting out. (The details are below) I will be in a training status for the next 1.5-2 years so I will have no housing payment as dorms are provided. I was wondering what everyones thoughts were on paying down this rental property as if I had the housing payment back home or put that money aside for a place of my own when I return from training? I am looking to continue to build my real estate portfolio but also would need a place to live when I return. My thoughts were to use my VA Loan and purchase another twin-home to live in for 2 years and then turn that into another rental property. I also thought of finding a 4-plex and living in that while renting out the other 3 units for 2 years before moving out to another place. Thanks for all the help and insight!
178000 house
35600 down payment (20%)
142400 total
Loan: 4.75% @ 30 year fixed conventional
743 mortgage
253 in taxes
50 home owners insurance
57 PMI (appraisal came in 4k low, so i'll have this for a little bit) (thoughts are to make extra payments till this is gone)
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1103 total per month
Renting it for 1350 per month