All Forum Posts by: Travis C.

@Brian Mackey @Brian Mackey sorry for the delayed response. I'm not on here too often. I just closed 3 Vendee properties yesterday. 30 year notes at 3.75% with 5% down. Each will cash flow about $150-200/ month for me and they are good homes requiring little to no rehab in a middle class area of San Antonio. There are tens of thousands of veterans in this area so there are unfortunately those cases where former residents may have had trouble making their obligations. There is a VA Funding Fee involved on top of all other closing costs and it is usually 2-3% of the sales price. I am fortunate (yet not really that fortunate to be when I think about it) because coincidentally I am a disabled vet so I am exempt from the fee...it saves me even more money. New American Funding is the lender who originates on behalf of the VA and they are based in CA. They have been easy to work with and they know my file now since I'm a repeat investor at this point.

You have to go to them and know what property you may want to make an offer on for Vendee financing and get their preapproval to move forward with a Vendee offer. The properties won't qualify if title is clouded because the VA hasn't cleared it all just yet.

It is a lesser known option by investors (VA Vendee Finance), as it is not heavily advertised, but it is an excellent program with very good terms. The only thing is that I'm sure some regions/cities have more supply of these than others. I jist happen to live in an area with a high proportion of VA Home loans in the market which means inevitably that there will be distressed sales ultimately.

@Monroe M. There is VA Vendee financing for investors where you out down 5% on VA foreclosures through the Dept of Veteran's Affairs. They do 30 year nites at 3.75% right now. I just closed 3 of them yesterday. You could pick up a couple probably.

I'm now purchasing 3 VA foreclosures with VA Vendee financing. 5% down on 30 yr notes at 3.5% - really can't beat that and they will all net me positive cash flow in good areas in San Antonio. I'd like to snag a few more, but always just depends if they accept my offer, if the properties make sense following a rent analysis, and what the states of the properties are insofar as to what my interest would be based on that.

@Russell Brazil you sir get it!

@Alex Winfield I've closed 2 of these in the past year with 1 (possibly 3 in flight) currently. It is a great program! As an investor and disabled veteran (although you do not have to be a veteran), I am exempt from the VA loan funding fee too. 5% down on 30 year notes most recently at 4.5% is legit.

It is VA Vendee Financing for investors. 30 year notes with 5% down. The VA has a site reference for it on Google. No experience pre-foreclosure here. Frankly don't have time for it with my career, but one day. I'm just a RE imvstor tortoise over here on the far west side.

I'm a mom and pop (well at least the pop part of the equation) investor buying mainly VA foreclosures and other deals over here in west Bexar County outside of 1604 around the Potranco area. Have to look a little harder for a good deal right now, but they are out there.

Good strong rents and hard working middle class tenants over here broadly speaking and appreciation has been my friend the last few years. Usually buy, hold, cash out refi and buy more with cash out funds combined with my own funds and this has been a good equation for me heading to #12 closing Monday. 

@Griffin Thomas no they are not higher than other big cities in Texas.

Hello everyone. I read complaints about Texas taxes all the time in here, but it isnt a deal breaker. Property values are half what they are in either coast so really it just evens out.

I live in San Antonio and I have a semi-large portfolio of SFH rentals on the far west side of the county in zip code 78245 and 78253 - two of the fastest growing zips in the US. Rental market is strong out here due to proximity to Lackland AFB etc. Has been very good to me and my family. We mostly purchase REOs.

@David Barnett yeah, married filing jointly and tax free proceeds. The 25% down deals are my bread and butter or sometimes I pay cash and then cash out at 75% LTV just so I can get better deals as a cash buyer.