All Forum Posts by: Christopher Sellar

Hello All!  

BTW, the Bigger Pockets community is amazing and thank you all in advance.

My wife and I are both active duty military and moving to Las Vegas in Feb. The housing market, like most places, is hitting new all-time high after all-time high. What are all your thoughts on buying right now?

Personal factors:

- combined housing allowance is increasing with market so this gives us more wiggle room but doesn't mean we will pay more than we should. 

- we have access to VA loan, so no money down required.

- we have 5 children so school district is huge. (On base housing is not an option)

We are looking at $500-550K homes that were $400K or less not too long ago in fear that it will dip back down. The plan is to hold long-term (10+ years) and renting out once we move in roughly 3-4 years.  There are so many factors within the market that we feel somewhat stuck in this decision (market at new highs, speculation of hyperinflation around the corner, etc.), that we are considering renting until it all pans out...

Sorry for the long post. Any suggestions are much appreciated. If any of you could me a recommendation on a realtor in the area that would be great as well!

Thanks again!

Thank you all so much for the input. Glad to be part of the BP community!

These are all solid points. Thank you for the quick reply. 

Also, I understand that interest rates are so low right now which makes a stronger case to finance, but the fact that it's amortized is what kills it for me. 

Hello BP family! I am looking to start owning single family rental properties. I am 34, active duty military with a big family. The plan is to buy our next house outright and rent it out when we move. After a few years of renting, because we would pocketing all of the rent which would bring in Hopefully 20-25K per year, we would buy another house outright and eventually rent that out. I understand this is a slower more linear plan to owning multiple properties. My goal is to have 6 fully paid off properties in about 10 years or so. I understand the BRRRR strategy. But this is just more attractive to me and would rather have 4-6 paid off houses than 20 houses that I still owe on. I am open to financing though, but I think I just like the idea of buying one house at a time and paying it off. What would you all consider doing and does this goal seem practical or would it make more sense to finance more homes and leverage the banks as much as possible?

Thank you in advance for your replies!