All Forum Posts by: Roger Edington

I was very concerned about asbestos on boiler pipes in a duplex I am purchasing. Not so much as for my health, but in order to get a VA loan. I will wait and see if they approve it or not.

I found one. https://www.militaryvaloan.com/blog/what-is-the-va-renovation-loan/

I just called USAA, they don't offer it. Neither does Quicken Loans. 

I too am searching for a leander that take VA Rehabilitation Loan on a duplex. I was approved by one of the big three loan companies but they don't offer this rehab loan.

I am wondering if I need to purchase an accounting program to keep track of my first property? It is just one more expense, but since it is just one multi-plex is it really necessary? Also, do I need to file a DBA with the county clerk?

So am getting started in real estate investing at a bad time? I figure real estate is a better investment than the stock market.

Hi Everyone. My hometown is South Bend, now I live in Berrien Springs, Michigan. I work in Mishawaka, Indiana. I am a veteran and would like to use my VA Loan benefit to buy a multi-family somewhere in the Michigan/ Indiana area. I would like to join an investment property group. This is my first time investing in real estate. I have been watching Bigger Pockets videos on YouTube for about a year.

I have just started so please excuse my ignorance. I am planning on getting started using a VA loan to purchase multi-families. I have found three different instances where more than one building is for sale as a package deal. One property is two identical duplexes next to each other sharing the same well. Another is four small cottages on the same parcel. The last one is a six unit plus a 2-unit near each other. I know I can only go up to 4-units using a VA loan. I am particularly interested in the two duplexes. I just think that either the bank or the VA probably won't allow for separate buildings, but I may be wrong. One last question, I see many properties with a separate lot for sale, with a separate tax ID, does this apply to them as well? Thanks for your advice!

Hello, I just joined a couple of weeks ago, and have a question. Is it advisable to purchase an income property from a family member? Pros and Cons? Thanks!

Great thread! I just joined Bigger Pockets and am delighted to learn that I can use my VA loan benefit to purchase an income producing multi-family up to four units if I live in one of the units for at least a year. I am a retired veteran, but never used the VA loan before. We bought my in-laws house using owner financing. It is now paid for, but plan on getting a home equity loan to clean-up some debt.

This is my plan:

Buy a four-unit multi-family, live in it for at least a year, find another one and repeat. I intend on holding the properties and passing them on to my heirs. I want to continue to do this year after year, as long as I can, I know I wil have to refinance probably after every other purchase. Properties are cheap here. 

As for our current house, hopefully we will rent it out to theological grad student families from the small university in our village. My mother-in-law rented her house for eight years now to a great family who was in the seminary. He now has his doctorate in theology and his wife is earning her doctorate in nursing. Very stable tenants who do not tear the place apart! You couldn't ask for better tenents! 

Using a VA loan is a great way to build wealth, using no money down, no mortgage insurance, and much of the closing costs covered by my credit union (Navy Federal). I think I have all this figured-out, but still want to continue to learn other options.

Any advice or colleague requests will be welcomed.