Hi Everyone! Newbie from Lexington Park, MD here!

Hi Everyone! Newbie from Lexington Park, MD here!

Rental Property Investor · Dayton, OH · Member since 2019 · 3 posts · 1 vote

Hello everyone! 

I'm currently located in Lexington Park, MD (about 1.5 hours SouthEast of Washington D.C.) near NAS Patuxent River.  My family and I are in the process of relocating to Tampa, FL. 

I'm completely new to real estate.  My goal is to make $1000-$1200 a month in passive income within two years of getting settled in Tampa.  My six year goal is to replace my salary with passive income so I can have more flexibility and time to spend with my girls. 

I'm retired Navy and I currently work for the Government, so stepping away from the security it provides will be scary.  I just don't want to continue to work a 9-5 for the next 23 years and miss out with my girls.  My wife became a stay-at-home Mom last year and I'm jealous of the time she gets to spend with them. LOL!

Thinking about using my VA loan for our main house and using my wife's VA loan for a rental property. If anyone has any information on this, I'd appreciate it!

Since I'm in a holding pattern until we move, I've been researching the BRRR method, listening to the podcast, reading posts on the forum (most of which are over my head right now) , and attending the webinars. I'm thinking of upgrading to Pro.

Sorry for the long post, just excited to meet everyone!

Thanks,

Derek

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Investor · Kirkland, WA · Member since 2017 · 121 posts · 53 votes
7y

Hey @Derek Catt! Congrats on the move.

I have some good friends that moved from Michigan to Tampa several years ago to chase a similar dream. They own a brokerage there and are focused on being investor friendly.

Happy to connect you if helpful!

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  • Investor · Kirkland, WA · Member since 2017 · 121 posts · 53 votes
    7y

    Hey @Derek Catt! Congrats on the move.

    I have some good friends that moved from Michigan to Tampa several years ago to chase a similar dream. They own a brokerage there and are focused on being investor friendly.

    Happy to connect you if helpful!

  • Rental Property Investor · Dayton, OH · Member since 2019 · 3 posts · 1 vote
    7y

    Awesome @Joel Thompson! I'll take you up on that offer once we get down there and settled!

  • NJ · Member since 2016 · 50 posts · 19 votes
    7y

    @Derek Catt Suggest househacking the VA loans in properties that you'll have at least 20% equity. The equity would allow to you to refinance out in a year and continue the process. You'll have multiple units, have put no money down, and can continue pushing ahead. Good luck!

  • Realtor · Detroit, MI · Member since 2018 · 387 posts · 129 votes
    7y

    @Derek Catt  your goals are definitely possible. Continue to research and figure out your investing strategy. Good luck

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