Vet Quest for 1st investment (house hack) 2, 3 or 4plex - JOURNAL
Hi there BP friends,
My name is Herson, my wife and I are Iraq war veterans. Our goal is to someday soon be financially free, maybe own a couple rental properties.
We don't know much about real estate other than what I've read and researched in Bigger Pockets podcast/books (waiting for delivery).
I want to share the journey of our first rental property. We would greatly appreciate any advice and knowledge you guys can provide.
Current Situation:
Living in DMV (DC,Maryland,Virginia) area, both working 9-5's, Renting a $2,000/month apartment. We have around $700 disposable income after all expenses paid and $20k in 401k, excellent credit.
Have a couple questions:
1. Can I use a VA loan to purchase or build a multi family property for house hacking? if so, is this a good idea?
2. How about a construction to permanent loan? So little info on the web about this... Is this doable?
3. Being so expensive here in DMV, would you guys recommend to invest here? or is it a better idea to do it in TX where I have family interested in investing?
Side note:
I might be relocating for work to Houston,TX; where I have 2 brother in laws that are interested in investing with me. One of them is a residential painting contractor and the other one is a home building contractor.
Also, how could I arrange a deal (proposition) so my brother in laws and I can do this together?
That's it for now. I have been postponing this thread for too long. I am so excited to start my endeavor and to hear and learn from you guys.
Thank you BP friends.
God Bless,
Herson