Multi-family guidance with VA/FHA Loans

Multi-family guidance with VA/FHA Loans

Member since 2022 · 15 posts · 3 votes

Hello everyone,

I am going through an unfortunate situation and in need to pivot my investing strategies. I am looking at this as an opportunity to get into a multi-family to house hack for a year or so and then rinse and repeat the process. The problem is, I do not have a lot of capitol to work with currently. I am planning to leverage my VA loan once I refinance my current primary so I have a zero down payment. After a year or two, maybe leverage an FHA loan to do it again. From there? Not sure how I would keep the momentum going.
I have spoken to a couple agents and lenders and to be honest, I feel like I am being pressured and they may or may not have my best interest at heart.

I guess I am looking for guidance on my overall goal. Is it feasible? What should I be aware of that I may not be thinking about? I would love to reset my life and get into real estate investing and to me, this seems like the only way given my circumstances. I am open to pretty much anywhere in the state of Florida: Tampa, Orlando, Jacksonville, Gainesville, Ocala etc. 

Thank You in advance.

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  • Tyler GibsonBusiness Member
    Real Estate Agent · Orlando, FL · Member since 2017 · 1k+ posts · 2k+ votes
    3y
    Quote from @Account Closed:

    Hello everyone,

    I am going through an unfortunate situation and in need to pivot my investing strategies. I am looking at this as an opportunity to get into a multi-family to house hack for a year or so and then rinse and repeat the process. The problem is, I do not have a lot of capitol to work with currently. I am planning to leverage my VA loan once I refinance my current primary so I have a zero down payment. After a year or two, maybe leverage an FHA loan to do it again. From there? Not sure how I would keep the momentum going.
    I have spoken to a couple agents and lenders and to be honest, I feel like I am being pressured and they may or may not have my best interest at heart.

    I guess I am looking for guidance on my overall goal. Is it feasible? What should I be aware of that I may not be thinking about? I would love to reset my life and get into real estate investing and to me, this seems like the only way given my circumstances. I am open to pretty much anywhere in the state of Florida: Tampa, Orlando, Jacksonville, Gainesville, Ocala etc. 

    Thank You in advance.


     It doesn't sound like a terrible plan but without enough context of your overall situation it's hard to say whether or not it'd be the right move for you. I'm a local real estate investor and real estate agent. I've helped several people house hack here in Central Florida and I'll be happy to chat with you. 

  • Raymond J. RodriguesBusiness Member
    Lender · Miami, FL · Member since 2017 · 1k+ posts · 797 votes
    3y

    @Account Closed, reach out to me and I’ll give you my opinion on your situation and try to provide some clarity on what may or may not be possible given your circumstances from a lenders perspective that cares to see your long term growth remain in place. 

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