All Forum Posts by: Tony Bryant Jr.

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 with established midsize family.

If you have the ability to purchase a duplex or 4 plex with your VA loan that would be idea. Getting in with almost no money and then having the ability to rent out the other rooms would be ideal.

I had a buddy who purchased a 4 plex in Alaska while active duty, lived in 1 and rented out the other 4. Now it serves as an airbnb + long term rental while he is now back in Texas.

@Preston Dean I would prefer to do it this way, that is as long as I could find a place suitable to fit all members of my family. Thank you for you input!

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Quote from @Nate Herndon:

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.

Greetings @Nate Herndon. I have heard this a time or two before I developed a passion for real estate. Thank you for your insight! I will be looking into the processes for refinancing from VA to conventional or DSCR loans.

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Quote from @Scott E.:

A primary residence investment is also known as a "House Hack." This is where you buy a house, live in 1 room, then rent out the other rooms. Or you buy a small multifamily (2-4 units), live in 1 unit, and rent out the other units.

House hacking is great when you first get started because it allows you to put a roof over your head, live almost for free after the tenants pay you rent, and it gives you a taste of being a landlord.

This might be harder to pull off with a family of five though. You're probably going to want to find a duplex, triplex, or fourplex where one of the units is a 3 bedroom.

I'd spend some more time around these forums, reading up more on the house hacking strategy. You've come to the right place.

(also... thank you for your service)

@Scott E. Thanks Scott! House Hacking sounds like more of a challenge for a family of five (not impossible though). I will be keeping an eye out on potential leads.

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@Jaron Walling Thank you for your input. That sounds all too familiar, as I find myself in a similar situation. I will be landlocked for the next 3-4 years (no deployments) with hopefully 2 graduating close to the end of my tour (St. Clair Co, IL).

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Quote from @Julio Gonzalez:

Welcome to the community, Tony! You're in the right place to connect with like-minded individuals and gain valuable insights.

-Julio

Julio, I appreciate the warm welcome. Truly looking forward to the journey!

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Saint Louis, Missouri

Greetings, I'm Tony!

Currently serving in the STL Metro Area, looking to begin my real estate investment journey locally and in the Midwest region.

I plan to work through Primary Residence Investing, House Hacking, and/or BRRRR.

Grateful for this platform and really looking forward to the knowledge transfers, sharing of prospective, relationships/business ventures that may present themselves!

Cheers to You All!

4 Votes

Saint Louis, Missouri

All Forum Posts by: Tony Bryant Jr.

Tony Bryant Jr. has started 3 posts and replied 8 times.

Post: Primary Residence Investment?

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Post: Primary Residence Investment?

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Post: New BiggerPockets Member

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