should i use a va loan or conventional?
Im planning on buying my first property this year but dont know if its more beneficial to use my VA benefits or just go conventional especially since im thinking about using the BRRRR method. Any advice would be amazing thank you!!!
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Boulder, CO
@Jesthen Baez Good for you for getting started. Dig deeper on the VA loan as I believe you have to live in the asset for 1 year prior to moving on to your next loan/home. That said, you could do a 2-4 unit and live in 1 unit and rehab the rest... then reposition after a year. If you can do something like that, that would be an amazing start. To get a conventional investment loan, you will need more to put down and larger reserves. Depending on the scope of the rehab, I would consider doing a fix-flip loan then refi into a conventional loan. You can read more in this article here.
PM me with Q's.