All Forum Posts by: Andrew Greaves

@Elizabeth Colegrove

ah, makes sense now. Thanks again!

@Elizabeth Colegrove I thought one of the selling points of using the VA loan was the ability to secure financing without a down payment period, let alone a full 20% down?

@Elizabeth Colegrove thank you! That is very good to hear!

@Scott Seaman good call!

@Scott Seaman that is wonderful news, one year is not a big deal at all. Thank you for your response, it's much appreciated!

Great point @Jen Borst

@Jen Borst

Thank you both for your time and replies! The particular place I was looking at would not allow me to live for free, just at a significant discount. It's renting for 800 per side, and I know that the note and taxes would be between 900-1100. However its a very spacious and clean place that I would be comfortable raising my family in for a few years, and potentially for just a couple hundred dollars a month. So I guess until we moved out, it technically would not be an investment, rather a creative way of living in a much nicer place than I could otherwise with the same amount of monthly rent.

Hello!

I know that the VA Loan requires the owner to occupy the unit purchased. This seems like a grey area to me as it does not specify whether or not the buyer must occupy until the loan is repaid or the property is sold. Does anyone have first-hand experience with this? If that is the case, it does not seem that the VA loan would be a great financing option for a first time buy and hold investor.

Thanks!

Hello all

My family and I hope to owner-occupy a duplex as a first home/gateway to REI. My problem is any duplex that is in an area we would live in will not generate positive cash flow for us while we live there. Is it still a sound strategy to purchase a duplex where we can live at a significant discount, knowing that at some point when we move out it will at that point become cash flow positive?

Here is one of the properties I was considering

http://www.owners.com/ky/richmond/2049-edgewood-drive/mjp9018

Thanks @Shaun Reilly for the welcome and sound advice!

@Jim Lally

Thanks for the welcome. And happy 238th Birthday to the boys in blue!

The VA Loan is the biggest reason REI ever even crossed my mind! Especially with the options to use it towards multifamily residences. I hope to use it to get my foot in the door (pun intended), and maybe live rent free while doing so.

Thanks again Jim!