Building Multifamily Property with VA Loan

6 Replies

Hey there! New REI here. I am interested in purchasing or building a multifamily property to househack. My wife and I currently have a SFR that I could turn into a rental or sell if the numbers worked. I am currently serving in the Indiana Army National Guard and have access to the VA Loan. I would want to use the VA loan to purchase or build the Multifamily. Does anyone have any experience in doing this? I appreciate any advice you can give!

Hi @Douglas Alexander , I've used the VA loan many times, but never for MFR.

You can't use it for more than a 4-unit building, so 1-4 is OK, 5 or more... nope.

Great plan though to house-hack it.

Let me know how your research turns out ref. building from scratch.

Could be an interesting idea... build like a 3/2 for your family and 3 more smaller units.

Then when you move out, you can rent the 3/2 for more obviously and could earn some good cash flow.

@Douglas the VA loan is a great opportunity, and I love the way you're thinking. The only way you can buy/build more than (4) units is if you partner with another veteran who has access to the VA loan and you both owner-occupy. In this case you can do up to (6) residential units and (1) office space...but that is the cap. otherwise 4 units is the most you'll be able to build.

@Douglas, My tagline is a growing community of military real estate investors!

I believe you can, as long as you both owner-occupy the residence!

I haven't bought a 2-4 unit with the VA loan yet (been living in expensive markets lately) but I will as soon as I exit the military in the next couple of years!