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Rob Currie
  • oilfield-operator
  • Philadelphia, PA
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Va loan versus other financing

Rob Currie
  • oilfield-operator
  • Philadelphia, PA
Posted Aug 29 2015, 16:29

Hi, I'm Rob Currie, newbie from Philadelphia, Pa, I'm an operator in the natural gas and oil field, ex military (82nd Airborne), was in the process of getting my formal pre approval for my VA home loan, to purchase my first home, was on Google trying to get a real estate question answered that's how I came across the Biggerpockets.com website, very thankful that I did, I joined a few weeks ago just now able to return due to the 200 plus hours I work in a two week period in the oilfield.im reading the ultimate beginners guide to real estate investing, I'm hoping through the forums, blogs and all the awesome information being given from all, I can one day retire from the oilfield. Now instead of using my VA loan for a single family home for me, going to use it to obtain my first 4 unit property, live in one rent out the other 3 units. Is this a good way to begin, or would FHA be a better way to start, with VA no down payment I would think would be an advantage, I do have $30-45,000 willing to use, if needed, how long would it need to be an owner occupied property with VA before I could get another through them, what would I need to do to get that second property, refinance, am I then free and clear to go through VA again, how do I max out my VA loan, can I obtain two properties as long as I don't exceed the max amount, if I'm interested in a 2nd property can I get a FHA loan while already having a VA loan, or should I just start with FHA and pay the 3.5% with the cash I have available, just don't want to get locked into one property using one type of financing and can't move on to obtaining that 2nd property and so forth

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