So I have the ability to purchase my first home with my VA loan. Major factors: I need to get into my own home within 3-4 months, the winter season sale prices won't stay as low for long, I want to invest in a property but the multi-families in my area aren't the best (little options) Philadelphia is right across the bridge for me to invest in as I build equity and/or tax season hits....what to do first is my question, buy a little high for my owner occupant and then invest, as saved cash is at a minimum, or rent, invest and then buy owner occupant property.
@Sonia Luzunaris many of my investor clients here in the Berwyn/Oak Park area deal with this type of conundrum when dealing with these types of owner occupant loans. I personally would be very cautious of buying just because I can use a specific loan product (VA, FHA, FHA 203k, etc). I would focus on finding a solid deal, and then use the appropriate loan product to close the deal. I personally have never used an FHA loan in my own investing because it hasn't made sense yet!
As a military member, be especially sure that your property will make sense if you move to a new duty station as well. A lot of military members get caught using the VA loan, and the property doesn't make sense when they move to the next duty station.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing