VA Loan, House Hacking, and Market Strategy

[Karinne Ovalles]

Hi everyone,

I’m currently looking to purchase an investment property using my VA loan and exploring a house hacking strategy. My dilemma is that I live in a very expensive market, and it’s been tough to find a property that offers good value and allows for positive cash flow.

Here’s where I could use your advice:

• Do I keep searching locally in my backyard (where my W2 job is, and where living in the property would allow me to use the VA loan for house hacking)?
• Or, should I broaden my search to out-of-state markets and consider a different investment strategy altogether?

I want to make the smartest long-term decision and would love to hear from those who have navigated similar situations with the VA loan, house hacking, or investing in high-cost vs. out-of-state markets.

Thanks in advance for sharing your insights and experiences!

[Clayton Silva]

Quote from @Karinne Ovalles:

@Clayton Silva 

My husband served in the Army- thank you for your service as well! I really appreciate the way you explained your method. Looking at it as reducing living expenses instead of chasing cash flow gives me a whole new perspective. We’re definitely in this for the long term, so what you shared really resonates with us.

I’d love to hear more about how you got started  what type of property was your first purchase, and how did you decide on that market? Did you run into any challenges in the beginning Also, looking back, is there anything you would have done differently in your first deal?

I got started in Fayetteville NC because that is where I was stationed at the time (Army as well). No major challenges in the beginning, but definitely some challenges this year. We scaled up pretty quickly and things turned on us. Luckily we always kept healthy cash reserves and have mostly weathered the little storm. I still have that first house despite selling almost all the others. It cash flows now as rents have caught up. Happy to help, and always look at global cash flow not just the net cash flow from one property. You'd be surprised how much ROI is missed