Buy a home for myself or investment property first?

[Tia Wilson]

Hey BP! I don't have "mentors" just yet so I thought I would ask the BP community.

I'm a newbie REI and just moved to Houston. Houston market is hot but expensive for me just starting out. I decided to invest in Kansas City due to great appreciation rates, affordability and I know that area like the back of my hand. For the past 4 months I've been reading , analyzing deals, got pre approved by a traditional lender and HML, touring houses and making offers since May. Nothing has worked out so far.

I'm currently renting and want to buy my own house here in Houston using my VA loan by December. However I was hoping to buy my 1st IP this year and continue stacking from there, 15 doors in 5yrs.

My question is should I continue looking for an IP and start my own home search at the same time 😬 or just hold off on the IP and focus on my own house then start looking for an IP in the Spring?

Background: I'm not into house hacking. I'm in the military and my kids move around enough as it is, lol. Thanks so much for reading my long post and your advice! 

[Mark Sewell]

If you do decide to buy your first house using your VA, then buy something that is cost-effective - don't go for all the house you can afford. Keep it moderate, and then later on when you move again, you'll have a great little house that will rent well and cash flow for you.

Hey you if you don't have a mortgage broker, give this guy a call... Clint Yates at Integrity Mortgage.  I'll send you his number but you'll find him online.  Good guy, also a US Navy veteran.