All Forum Posts by: Austin Merritt

I've been running the numbers on my first primary residence that I will be moving out of in June. BLUF - this would be my first rental property and I'm on the fence about what to do with the home. I currently have about $112,000 worth of equity and also have my VA loan tied up in the property. I locked in a great rate at 2.25% in 2021. My house is located in an appreciating area outside of the Denver Metro area. I will be moving out of state and I will be bringing on a PM company.

After running the numbers, I would be facing negative cash flow every month after accounting for all the expenses (Annually about $1,000 - and that's the rosy estimate)  Is it worth it?  If I sell the home, I don't plan on doing anything with the proceeds other than parking it in a HYSA.  I would love to keep the home for many reasons - potential appreciation, landlord experience, tax benefits.  But at the end of the day, it will not cash flow. 

I am looking to purchase a new primary residence in the next year with a conventional loan. I plan on making my current primary residence into a rental property, but about all of my VA loan credit is tied up in this current home.

My question is, if I decide to refinance my next residence into a VA loan in a few years, what options do I have?

I am looking for a real estate agent in the DFW/Plano area that is willing to walk through properties in the next few weeks. My previous agent was somewhat reluctant to go into properties (understandably because he is much older). However, I really would like to lock down my first property with a VA loan in the next 30 days. I have already been pre-approved and would like to do some shopping. Are there any agents actively showing properties or willing to do walk-throughs?