I'm eager to purchase a property using my VA home loan. I'm located in Pittsburgh, there are not many if any multi family properties in my price range OR in suitable conditions to withstand a VA appraisal. It must be my primary residence, so aside from buy and holding it seems my investing options are limited. I'm open minded in types of properties such as condos, multi, SFH. Thank you all in advance.
I'm in Pittsburgh, and new to Real Estate investment, but I have the opposite problem. I can find properties, but don't have the financial backing yet. I'll be happy to throw some your way. I'm not soliciting anything; I just want to help out.
What is your criteria? How many units (min and max)? In what locations are you interested(town and borough names are most helpful, but at least provide a compass direction)?
PM me if you'd like. I'm going to go research VA appraisal and property condition requirements.
@Aaron Starr They should count the rents from the other units towards your DTI to increase your budget. I'd just be patient and wait for a multi to pop up because you'll end up regretting not using it on one if you decide to go single fam on it. I'd use VA for multi and then go 5% down conventional for single fams after that if you want to continue the low down payment house hacking.
What about a VA Renovation Loan?
I just want to add that the V.A. Renovation loan would only be available for SFR and V.A. approved condos, but it could give you the opportunity to build up equity and possibly cash out refinance afterwards. (except in Texas)
@Jerry Padilla this sounds like exactly what I looking for. I will research this right away and share any information I find. I’ve never heard of this.