Q&A: Should I Buy a Primary Residence or a Duplex? – Episode 957

Today’s first caller is a Marine who’d like to use a VA loan wisely. Should he buy a primary residence, or hack house a duplex? That’s the first question I’m answering on today’s show!

This episode of Investing in Real Estate features three great listener questions on utilizing a VA loan, pulling funds out of traditional retirement accounts to invest in real estate, and how to navigate finances during retirement. Tune in to hear my answers to your real estate questions!

On this episode you’ll learn:

• The best way to utilize a VA loan for investing.
• How to move your investments from a 401k into real estate.
• Creative ways to build up retirement funds.

The Best Way to Utilize a VA Loan for Investing

I believe that rental properties are a smart investment for anyone, but especially for our military members who have access to VA loans. While I have no personal experience with this, I would suggest checking out this interview with veteran Michael Foster. Michael teaches other veterans and active duty service members how to best utilize their military benefits to build financial freedom. His book, Military House Hacking, is a great resource I can recommend if you’re thinking of going down this route. House hacking in a duplex (or triplex) is an amazing way to utilize your VA benefits, have a place to live, build your net worth, and start investing in real estate!

How to Move Your Investments From a 401k Into Real Estate

If you’re a longtime listener of the show, you probably know that I’m not a proponent of the 401k, especially not as a primary retirement vehicle. If you’re thinking about moving funds out of a 401k into real estate, you have a few options. It just depends what your circumstances and your goals are. Here are a few ideas:

• Take a loan from your 401k and use those funds to buy rental properties.
• Withdraw completely and pay a penalty (not usually the best option).
• Transfer your funds into a self-directed IRA, and buy properties in the IRA.

Again, there are pros and cons to each of these, but you can certainly get better returns in real estate than what is possible inside a 401k. My team would be happy to talk to you about your personal situation and which options are best for you. You can schedule a free call at https://morrisinvest.com

Creative Ways to Build Up Retirement Funds

There’s not one way to financial freedom, there’s only your way. With a small amount of money to invest, I highly recommend checking out Connect Invest, a company that allows you to make high returns on real estate notes. You could also consider leveraging the equity on your existing property. I also love the book Nomad Capitalist if you want to think outside the box of traditional financial advice. I encourage you to start with what you have, and start thinking creatively.

Ask Me a Question at morrisinvest.com/clayton

Episode Resources
Book a Call with Our Team
House Hacking Military Style with Michael Foster
Military House Hacking by Michael Foster
Nomad Capitalist by Andrew Henderson
morrisinvest.com/connect
morrisinvest.com/Clayton
Download the Freedom Cheat Sheet
Download the free Financial Empowerment Bootcamp
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.

AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. We recommend them because they are helpful and useful, not because of the small commissions we make if you decide to​ use their services. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.