Best Disabled Veteran Strategy in Minnesota

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Best Disabled Veteran Strategy in Minnesota

Matthew Christofferson
Hanover, MN · Member since 2023 · 7 posts · 1 vote

How do you guys/gals determine a strategy? My kids are almost out of the house. I have a pretty flexible W2 I'll keep. I'm super handy. Family will tolerate a house hack fix in flip but not a multifamily. If I use VA...feels like I'm limited to expensive new builds. Outside of VA my buying power drops to $200k...but I won't have to house hack it. Do short term cabin's make money in the winter? I'd love some direction or a military veteran mentor? All help is appreciated. Thank you BP.

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  • Hamp Lee IIIPro Member
    Real Estate Agent · San Antonio, TX · Member since 2019 · 1k+ posts · 832 votes
    9mo

    Just retired from the Air Force after 30 years. Have five houses. Three are VA loans...

    Have you thought of moving into a newer home for yourself and family then using your current house as the rental? I've done this using my VA loan.

    Why would you be limited on new builds?

    How much do you have remaining for your VA loan if you've used it? For many lenders, they will not ask why you are moving into another home, but others will want some type of qualifying event like a new baby, downsizing, etc.

    I hope this helps get the conversation going.

    I wish you all the best.

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  • Bryon AndrewsBusiness Member
    Real Estate Agent · Saint Paul, MN · Member since 2018 · 201 posts · 104 votes
    8mo

    Hey @Matthew Christofferson

    A live in flip may be a great strategy for you if you do not want to househack a multifamily property. Look for an attainable two or three bedroom house in your price range. "Grandma's house" is a great place to start because they are typically outdated and straight forward. If you find a 2 bedroom house that you can add a 3rd bedroom, you should be able to force some appreciation if you do quality work and buy it correctly. My wife and I did this in a White Bear Lake rambler and it worked out very well. Reach out if you have any questions!

    [email protected]715-892-4596
    Bryon Andrews Real Estate51 Review
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