Newbie Investor Path Forward

4 Replies

Hi everyone. This is my first post in BP and I'm excited to be here. I'm trying to identify an investment path forward for my wife and I and am eager to hear everyone's recommendations. A bit about ourselves in order to frame the discussion: newbie investors, both work full-time, live in San Diego, CA, possess two investments and a primary residence, looking to invest in Norfolk/VA Beach/Chesapeake, Virginia, and will have $60-70k annually to invest. Additionally, I'm active duty military and will likely move in 18ish months, thus freeing up my VA loan again (we will not be moving to the location in which we want to continue investing). Investment 1: cash flow $300, $250k in equity. Investment 2: cash flow $700, $60k in equity.

We are from the Norfolk/VA Beach/Chesapeake, Virginia area and would like to continue to invest there. We have an excellent real estate agent that we will continue to use.

Our original game plan was to use the $60-70k annually as a down payment and grow our investments by 1 per year.  Upon further review, I would like to be more aggressive than that, however, lack the knowledge to do so.  Does anyone have any recommendations on a more aggressive path forward or view our situation differently?  

I have read several investing books and listen to investing podcasts daily.  My knowledge base will continue to grow, however, any and all recommendations are welcome.  Thank you for the time.

Welcome to BP. Virginia here as well. I might suggest having your realtor pursue properties that would seller/owner finance to preserve your capital. Another option may be to tap the equity in your current investment properties in order to fund the down payment on the new ones. You have a large amount of equity in your first property so that might be a good one to look at first. You would of course set this up as a BRRRR and get your cash back on your refinance. This would allow you to utilize both your equity and your annual income to purchase properties and accelerate your growth. I think it all depends on how aggressive you want to be.

Welcome to BiggerPockets! Truly nice to meet you. Good luck going forward! Thank you for your service. Sounds like you are doing great. Hope the best for you going forward!

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@David Greene and @Brandon Turner has some good ones.

Originally posted by @Tim Murphy :

Hi everyone. This is my first post in BP and I'm excited to be here. I'm trying to identify an investment path forward for my wife and I and am eager to hear everyone's recommendations. A bit about ourselves in order to frame the discussion: newbie investors, both work full-time, live in San Diego, CA, possess two investments and a primary residence, looking to invest in Norfolk/VA Beach/Chesapeake, Virginia, and will have $60-70k annually to invest. Additionally, I'm active duty military and will likely move in 18ish months, thus freeing up my VA loan again (we will not be moving to the location in which we want to continue investing). Investment 1: cash flow $300, $250k in equity. Investment 2: cash flow $700, $60k in equity.

We are from the Norfolk/VA Beach/Chesapeake, Virginia area and would like to continue to invest there. We have an excellent real estate agent that we will continue to use.

Our original game plan was to use the $60-70k annually as a down payment and grow our investments by 1 per year.  Upon further review, I would like to be more aggressive than that, however, lack the knowledge to do so.  Does anyone have any recommendations on a more aggressive path forward or view our situation differently?  

I have read several investing books and listen to investing podcasts daily.  My knowledge base will continue to grow, however, any and all recommendations are welcome.  Thank you for the time.

 Welcome to the biz Tim.

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