All Forum Posts by: Anthony Nguyen

@Anthony Nguyen I would say acquiring a 2-4 unit in the same areas could potentially be a good idea for you. As an active duty service member you will run into the time old issue of deciding where you want your portfolio to exist. Here are some thoughts I always have for my service member clients:

-Will you come back to Hamptons Road when you are done with your military career?

-Do you have a good property manager, or at minimum, a good handy person there?

-Do you have family and friends there that could help you out while you are deployed elsewhere?

As for the actual 203k loan advice, I would counsel you to be cautious in using the 203k loan. They are very tricky loans, and they require an experienced lender and general contractor. I have had several fall apart in the past year in my local Berwn market, as there are just too many moving pieces. I also find that it is challenging to make the numbers work once you add a general contractor to the mix. 

Have you considered using your VA loan again? You could always refinance out of the VA loan, and then use it to buy the multi unit deal.