New Member Introduction, Fond du Lac WI

3 Replies


My brother (@Christopher Grebe) lead me to BiggerPockets and I am thinking about real estate as a way to do 2 things for my family.  One, help us afford a bigger place to live by buying a duplex and house hacking.  Two, covering the gap we have in our retirement plan by purchasing a rental property.

The largest hurdle I am facing is I am limited on cash for a down payment. I have no problem using the equity in my current house to get a new house, but to use it on something I will not live in is a risk I am not sure I want to take. On the flip side I can use my VA loan for a primary residence. Another advantage I have is I am currently a substitute teacher, so I have a flexible schedule. After listening to a couple dozen BP podcasts this seems simple enough. Does any one have any feedback?

Thank you


Welcome @Joe Grebe !

I love that you're taking care of your family and planning wisely for retirement while seeking passive cash flow from rental properties. Just slightly reword that first goal, instead of affording a bigger place I want you to focus on trying to live for "free" and offset a full price mortgage! 

Joe, you have some of the best financing available. I would focus on using your VA loan for duplex that might be out of date or need some work. (Something that is livable but you can "fix up" as you go). Unless you wanted to do a rehab loan (Around here its 5% down).

The goal to add value instead of buying something at face value. 

  • Can you rent out your current home and make more than the mortgage payment? 
  • Check with the VA requirements. You might be allowed to have two if you haven't reached your max entitlement.

Best of luck Joe! 


Based on on the research I have done on my market, I do not think I would be able to get a duplex that fits my family's needs and cash flow with us living in it.  I think I could rent out my current house and make more than the mortgage payment.   The problem is if we cashed out I am not sure it would cash flow.  Without doing the numbers I think it would be close.

Thanks for the pointers and two questions to find answers to.

Hey Joe,

What exact location are you looking to purchase? 

Are you looking specifically for a side x side or is an upper lower acceptable? 

I have leads on a 4-plex, triplex, and two duplexes, please reach out to me if you're a potentially interested buyer

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