Hello, I am a veteran and recently came across the possiblity of VA Home and Business loans. I was excited about the idea of using a VA home loan to begin my journey into REI but then learned about the one year owner-occupancy requirement. I cannot do this as i have a family and we already live in a SFH, bummer.
I also came across the VA business loan "patriot express pilot loan initiative" which apparently guaurantees up to 85% of 150k or 75% of 175-500k. I am wondering if this loan could be used under an LLC owned and operated by me for the sole purpose of acquiring real estate. If so, would the type of real estate matter, RE single family vs small multi vs large multi, etc. Thanks for reading this and I look forward to your responses.
I am also looking for information about investing with the VA Business Loan! Have you found any new information since this post?
Love to talk to you about investing as a veteran, I have to buy and holds under my belt (1 with a VA Loan)
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It can be used for business occupied real estate purchases. So perhaps a mixed use building. SBA has a lender match tool that can connect you to lenders in your community.
As stated above, it must be owner occupied business property. So you cannot use it to purchase rental property but there might be a way to do mix use but I'm unsure.
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