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Updated over 1 year ago on . Most recent reply

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8
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10
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Tony Bryant Jr.
  • New to Real Estate
  • St. Clair County IL
10
Votes |
8
Posts

Primary Res Investment?

Tony Bryant Jr.
  • New to Real Estate
  • St. Clair County IL
Posted

Looking into best (not easiest), but profitable real estate investment to start with. Currently Active Duty family of five. Considering Primary Residence Investment property giving my family a roof over their heads with intent to invest in the property to rent or sell.
Any feedback from anyone who has found themselves juggling the decision on what investment would work best and not strain home life.  

Most Popular Reply

User Stats

225
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171
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Nate Herndon
  • Lender
  • Springfield, MO
171
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225
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Nate Herndon
  • Lender
  • Springfield, MO
Replied

Hey @Tony Bryant Jr., I don't venture into the conventional lending space as a private lending broker but I have used my own VA loan twice now. Had we been able to do so, I would have held onto my first single family we bought ($150k purchase, owed $130k when we sold it).

That may kick the can down the road for you, but would not interrupt the home life by house hacking and living next door to your own tenants. Instead, maybe look at purchasing with the intent to hold it as a rental once you move to your next duty station. If you need to free up your VA loan for the next home purchase, you would simply look at refinancing into a conventional loan prior to your move or look at DSCR loans in the private lending space once the house is tenant-occupied.

  • Nate Herndon
  • [email protected]
  • 417-605-2196
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