Transition period, getting close to crunch time

1 Reply

Hello, My name is Devin. So here's the deal, I'm about to transition out of the service, I intend to jump into my first rental property upon moving. I am currently looking at a duplex/4-Plex as my first investment. I am qualified for a home loan through the VA already for 250. This dilemma is that I don't get out of the military until July of 2018, but I am wondering should I purchase a duplex in my next location NOW, (the unit is already occupied with tenants) and move in when I get there? Or should I wait until it gets closer to July and then move. Help!!

@Devin Harris I haven't been a loan officer in years. But at the time, for FHA/VA loans, there was the requirement to occupy the building as your primary residence in 60 days, or something like that. With a VA loan I don't think you could buy it now and wait till next summer to move in.

Hopefully a loan officer familiar with VA requirements can chime in. But I personally think you are on the right track, and making your first home a multi will be a wise decision for you.