Newbie has First property rented with VA Hacking
Hello All,
First I would like to say thank you to this forum community for giving me the courage to pursue the life of a real estate investor. Although I don't post or comment much (at all), I almost found every answer to every question here at BP.
Now to shed some light on why I'm incredibly excited....
I bought a home in northern Cali using the VA Loan (zero money down + closing costs). After refinancing 9 months later using the VA IRRL I was able to buy a new home using the rest of my entitlement. I did have to put some money down for my second entitlement but that's ok because it gave my family and I the home of our dreams with my have great paying w2 career.
Literally 3 weeks later from moving out of the first home, I now have a tenant moving next week. Cash flowing $200 in an area that is continually on the rise since the new Hard Rock Casino Resort will be opening in a few months approx. 7 miles down the street.
Although this isn't a huge homerun in the investing world it was a huge deal to me becoming a land lord.
My near future goals now is to use this as a stepping stone and invest in the Stockton CA area as well as out of state in Indianapolis, IN (because I have family there and it's a lot cheaper than Cali).
Thank you all again, you are the real MVPs.
~David