Starting your Real Estate Investment Career

[Abimael Rivera-Lopez]

Hello everyone,

I'm really excited about this new journey of becoming a real estate investor. I recently finished reading the book on "Investing in Real Estate with No (and low) Money Down" by Brandon Turner and it turned me into a believer; and its only one book of the seven I purchased! So lets jump right into the details.

My wife and I currently own a home (in Hawaii) that we purchased 4 years ago utilizing the VA Loan. We currently owe $590K on the loan and Zillow currently has it estimated at $744K leaving an equity of approximately $150K with a 79.2% LTV. I do have tenants (2 year contract) in the house and a property management company to oversee it, however, my cash flow for the home is "-$650" per month. I do need to get the house appraised since I've done some upgrades to it; like remodeling the kitchen, adding solar panels on the home, and other little cosmetic work. So it might be worth more.

So my question is should I sell and start off on a clean slate with no loans and have the VA loan option available to me? Should I keep the house since it has a good amount of equity? What would you do in this situation if you were to start your real estate investment career?

My wife and I rougly make about $125K (Before Taxes) a year from our occupation. On top of this, I also receive $3,200 monthly from VA (medically retired Army) and $3,400 for being a full time student using my education benifits (both not taxable). I would like to here everyones thoughts and strategies. The scariest part of all this is taking the first leap. I just want to ensure I have all the guidance and best options laid out in front of me so I can begin this journey as a new investor in the Real Estate industry. Thank you all for your time!

Best Regards,

Abimael Rivera-Lopez

Electrical Field Technician (NETA 2 certified)

U.S. Army Medically Retired