One-time close construction loan with VA

[Edet Umoren]

I am currently on active duty and looking to start my Real Estate journey as I retire in the next four years. I know about the VA's One Time Close Construction loan for us veterans. I want to use it for a fourplex somewhere in Riverside, CA., which is the closest I can to Camp Pendleton, where I am stationed. Any advice is taken seriously as I like to start building my portfolio.

[Adrian Pinson]

Quote from @Shawn W.:

Quote from @Scott Schnabel:

VA Construction loans are tough. Typically the buyer makes and interest only payment on the loan during construction. VA doesn't allow this so the moneys to be paid are added to the project. Sometimes this creates appraisal problems.

I'm also looking in to VA construction loan as well, potentially for a BRRRR property. Could you please expand on why it creates appraisal problems? Thank you! @Scott Schnabel

@Edet Umoren Curious if you ended up getting the VA One time close construction loan?

To avoid appraisal issues with VA construction loans, work with a VA-approved builder, keep plans detailed, and stay in touch with your lender and appraiser. Make sure everyone's on the same page if any changes or delays happen. Do you have a lender you're working with?