wholesale cash up front investor/ VA loan conversion question

wholesale cash up front investor/ VA loan conversion question

Rental Property Investor · San Antonio, TX · Member since 2019 · 10 posts · 1 vote

Good morning all,

I have been in the market looking for a home/buy-hold multiplex for a few months now. i am active duty and want to maximize the VA benefit to the max but i cannot seem to see anything about wholesaling. So my question is, is it possible to get a private lender to front cash to snag a property for cheap and finance that off market property and convert that property to a VA backed loan? The VA benefits page states that it is possible to convert a convention loan/FHA loan to VA. There is also VA construction loan that can be converted to VA home loan. i was wondering the similar type of situations but with a wholesale/foreclosed/under or off market value, and properties that usually require larger upfront cash payment. i hear the horror stories about VA loans from sellers and property sellers are in for the cash up front returns, but i do not think that those stories apply to everyone. Simple terms, have someone purchase an underpriced/ off market home with the intent that i finance it from them under VA loan terms. Anyone have experience in this? Maybe I'm just talking unicorns or if this is even a real thing. Looking for insight.

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  • Rental Property Investor · San Antonio, TX · Member since 2019 · 10 posts · 1 vote
    7y

    Some properties are way better than some that are on the market and for way cheaper. Maybe its the frugal in me but just a wild thought

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