Updated almost 10 years ago on . Most recent reply
VA beginners help
I'm prior military and have access to the VA loan, is it a good idea to use this for investing or should I save it for my own home?
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I can't urge you enough in this situation to take Brandon Turner's advice and house hack. I'm currently Active duty and have used my VA loan to purchase a multi family (triplex). I lived in one unit and rented out the other two, which paid for the mortgage completely. Now, I did have to pay for my own utilities out of pocket, but I didn't consider that a terrible thing. Since then, I have moved out of that property, have it fully rented, under property management and it is cash flowing about $600-$700/mo. As I look back on that deal, I can't be happier with how it turned out. Was it a home run? Not at all. But I can say with confidence that it is a solid deal that yields a consistent return for me.
If you have any other specific questions about house hacking using the VA loan, I'm glad to help you out.