Fork in the ROAD, LEFT or RIGHT

[Andrei P farley]

Hey BP,

Hey all Pros/Beginners, I'm Andrei and I would like to spill my current situation to you all with hopes of directions or ideas on how to proceed. I'm currently active duty military but I always like to plan for the future or the after 20 years of service scenario. I currently own two homes with my VA loan rights and live in one.

The fork in the road is that I currently have retired military family renting out one home with $355 cash flow after expenses are paid but I want to buy another home to increase my passive income to of course purchase another home. This won't be as easy this time as I will need the standard 20% down for an investment property. My current house is being House Hacked of sorts with a family member paying a small portion of rent. 

I'm bone dry on funds and I know hard money lenders or raise funds but I am unexperienced as is but I continue to read, read and read to learn but I think I'm now in the "over thinking" phase of my learning experience. I think I've failed at finding the perfect contractors and real estate agents as I've changed 4 or 5 times now because unresponsive or just don't seem interested in helping me stay informed on deals with potential to a real estate investor. 

Point me in the direction and I will listen/learn as best I can. 

Happy holidays to you all and stay safe!

V/R

Andrei

[Theresa Harris]

You said you want to buy more properties, but don't have the money for the 20% down.  One option might be to use some of the equity you have in one of your homes. Another is to buy a new place with 5% down and move into that and use your current home as the second rental.  The family member who is living with you can move with you as well. Look for something with a rental suite that you can rent out to another person.  Option 3 is to wait until you've saved up enough for the down payment.