Never renting again!

2 Replies

Hello everyone! I've been very fortunate enough to be able to buy a house as a primary residence every time I move to a new duty location...except for my last duty station. After renting from a poor property manager, I'd prefer to never have to rent a house again. At the moment I have 2 rental properties and a primary residence. Since I will be moving in 2 years, I'm already planning on increasing the value of my primary residence through forced appreciation and hopefully rent it out over what I'm paying monthly for mortgage payments. I'm exploring the idea of using home equity loans and HELOCs to pay for my next house, but I'm interested in hearing what methods other military members have had success with. I'm worried that as I continue to scale, my DTI ratio will make it even more difficult for me to get a mortgage on another house.

Thanks for serving. I spent 21 years in, retired in 2008.

In general, your personal residence is a terrible investment. You're focused on something you want vs. what would give you the best return for your money. 

It looks like you're married with child(ren) so a four-plex would probably result in divorce or insanity. But you could certainly invest in a larger duplex that provides a comfortable home on one side and a nice rental on the other. When you move, you rent out the second side and cash-flow nicely.

I would consider selling your current home and kicking into multi-family.

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