All Forum Posts by: Jesse Newell

@Sharad M. 

I have thought about that. I need to research this VA loan and what exactly it entails. Thanks for the suggestion!

Thanks, Dawn! I'll see what I can find out. I'm also interested in how other people have financed a rehab as well. 

 Yes, Dawn. I plan to live in the house from May 2015 to about March of 2016.

Hello, my name is Jesse and I'm brand spanking new to biggerpockets. I first became interested in investing in real estate at a young age, when a package belonging to the owner of my parent's house was mistakenly sent to us. We had never met the guy but we found out his cell phone number and told him we have his mail. He answered his phone in the middle of a few rounds of golf in Hawaii. That perked my interest, but I'm not dreaming about playing golf in Hawaii. I want to be able to support my family and spend quality time with them. 

I'm 23 and would like to buy my first single family home by May of next year. I'm military with excellent credit, so I don't think I'll have an issue qualifying for a VA loan. However, my question is I want to buy a house and be able to rehab it enough to either sell it for a profit or rent it to a family when I move to San Diego.

My question is: How can I finance the repairs/remodeling of the house? Can I use the loan as part of the money to do this? I don't have $10000 to rehab and would like to put money down on the loan.

Thanks for the help! This site has already given me a lot of information and I'm excited to get started!