VETERANS!!!! WHERE SHOULD WE START???

[Courtney Brown]

Good Morning BP,

     As a veteran, my goals this year is to obtain at least 2 multi family homes. 

I have access to the VA Loan and I have an investor.

     I have the time to oversee rehab.

     I am also willing to invest out of state.

My current strategy is to house hack a small multi family home with a va loan. Then as soon as i can, invest in another small multi family home with funding from an investor. 

Can anyone recommend a better strategy for a veteran to start obtaining properties?

Should I buy low and renovate?

Should I buy as much as the va will back up?

Should I build?

Are there creative financing options just for veterans?

Thank you in advance and sorry for all of the questions lol.

Courtney L. Brown

[Chris Webb]

Hi @Courtney Brown, I have purchased several properties using the VA home loan and just sold a rental that was financed as VA. The trick is you have to occupy the home for a period of time before you can rent it out.

I wouldn't say buy low meaning cheap, but under asking, yes... if possible ( which should be available in today's climate).

As far as building, you would have to talk with a VA home loan specialist. they have regulations that might restrict what you can build.

Creative ways to finance a deal would be through Navy Fed which offers an additional 0 down loan product for Vets who have no VA entitlement left. This way you could potentially get a few properties (3+) with zero down.

Initially, talk with a lender who understands the VA and they will give you the guidelines. Next, set your parameters and house hunt! Repeat the process and in a few years you will have a portfolio of several properties with little or no money out of pocket.