Fellow RE Investors, We want to source opinions from investors who have used VAs or hired from VA companies in the past. What elements or services are important to YOU when it comes to a VA company? What are some downfalls you have noticed about VA companies? If you could make changes to improve VA functionality and ease, what would it be?
I'm a broker in CA and AZ and love VA loans. Additionally, I'm a USMC veteran and RE investor myself. I used my VA loan a few times to purchase primary residences, renovate them, rent out, and eventually sold (2 of them). I even used the VA Renovation Loan. Additionally, I've facilitated multiple VA purchases for buyers/investors and know the answer to your question.
The importance to buying a home with a VA loan is to make sure you first have a plan for what your ultimate goal is, then work with someone that knows the VA guidelines in and out to educate you on how to best use the benefit to your advantage. The VA Home Loan has a variety of features exclusive to you: 0% down, much better interest rates when compared to conventional/FHA products, and protections for the veteran/active duty members that use the VA product.
You need an advisor (either a mortgage broker or retail lender) that will listen to what your ultimate goal is and give you the roadmap to achieve that goal.
Split entitlement on multiple properties, a 1-Time Restoration, and the funding fee waiver are examples of features that many lenders are unaware of how to navigate through. I've heard of lenders that don't know how to use the product encourage veterans to use something else, like FHA or VA loans because they are lazy. There are also misconceptions about the VA loan by older real estate agents and uneducated buyers/investors due to their lack of experience. That's their downfall. The product is not the issue, it's the folks that just aren't up to speed on how to use it.
I recommend no changes to the product, I love it.
If you are not in CA or AZ, I'd be happy to refer your name out to someone that has been vetted as an expert on the VA loan. If you are here in AZ or CA, feel free to send a DM.