Updated about 8 years ago on . Most recent reply
Using VA loan multiple times to build portfolio
I'm looking for advice on my current thought / strategy. I'm currently in the military and will be getting out in approximately 21 months. We will be moving back to the Minneapolis / St. Paul area. Right before getting out I'd like to purchase a MFR with the VA loan, live there a year, refinance, find another MFR, live there a year, refinance, and continue to do so until the portfolio has a 5k\month in passive income.
We do not want to purchase now to avoid being absentee owners. What holes are in this plan? Any and all advice or critique is welcome!!
Thanks!
Most Popular Reply
@Adam Widder @Jordan Moorhead makes a good point. It's not likely you will be able to get that sorry of equity in one year after a zero down purchase. There is a modification to this plan that can work. I think it would be next to talk it through. We can Skype if you are deployed. Pm me and we can strategize.