Hello my name is DeAndra, I am a new to the Bigger Pockets podcast and real estate investing. I am in the military and stationed in Utah. I am interested in buying a multiunit and utilizing the house-hacking method but kind of tight with money. Do anyone have any advice and tips that they think would help me?
Check out what's called the VA loan. It's a 0% down loan offered to men and women who've served in the military. This loan allows you to buy into a 1-4 unit building for no money out of pocket. This is a GREAT way to get into real estate without any cash of your own.
Start listening to the podcasts and researching topics on BP. I wouldn't recommend just jumping in until you have a grip on basic lingo, methods and strategies. But also don't get gripped by "analyse paralysis".
Also, check out local real estate meetup groups in your area. The people you meet there could be the rocket fuel that sends your ship into orbit.
I bought a house about two years ago with a VA loan. Paid around $500 in cash for closing fees and there's a $1,500 fee for using the VA loan but it can be wrapped into the mortgage. The only thing I regret with my VA loan is I paid pretty close to market value for the house so when I got orders overseas I couldn't sell it without losing money but luckily it cash flows. So with a VA loan and 0% down make sure you buy with a good chunk of equity and that it can cash flow if you need to keep it when you PCS.
I would love to hear more about what you need.
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