Can A VA Loan Be Used For A Rental Property?
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- čas přidán 11. 09. 2024
- Yes, a VA Loan can be used as an investment loan or a rental property, but also . . . NO, it cannot! Sounds contradictory and it seems as though everyone explains it differently . . . So, in this video, I set the record straight.
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You can have multiple va loans at once, they just have to fit in your entitlements
I'm just throwing this question out there to see what everyone's thoughts are but would renting out bedrooms in the VA funded house (so collecting rental income) be okay if this house is still your primary residence?
Absolutely okay, we teach this all the time! Checkout www.militaryhousehacking.com :)
Yes its okay & you can use that (or the additional units if its a 2-4plex) as income history on the application.
Thanks for the Information! Honestly great content, you deserve more views.
Much appreciated :)
So to be clear, you can rent out ur home & move out after a year? & during ur first days of buying you can rent out other rooms & bring down the mortgage?
Whats up man.
Love your content. It provides a lot of motivation and confidence that my family and I can accomplished anything in life and in the military.
QUESTION: A lot of people I speak with always have negative attitudes towards a VA loan saying "its really hard to find a lender and its not very feasible". Is this true?
I am leaving for basic in July for Air Force Special Operations and buying 4 plex's using the VA loan is a goal that I will be striving towards in my career with the military.
My wife hears these negative comments about the VA loan and gets discourage.
Would love your thoughts!
As always, I very much appreciate you brotha.
Thank you! Don’t listen to the people that say VA Loans are difficult, that couldn’t be farther from the truth! Can’t recommend reaching out to our loan officer team and jumping into our community :)
www.activedutypassiveincome.com
Www.militaryrealestateinvesting.com
Very excited to dive into your videos. New ascension here, and I'm keen on making this a long term goal.
Get after it!
@@ADPI we have a duplex under our VA loan. How soon can we move out to rent it completely out. We plan to move in with my sister for the time being but do we have to live in the house for at least a year?
Well if you have a va loan what stops you from refinancing before the year is up?
so you can hypothetically buy a 3/4 plex and as long as it’s your primary residence you can rent out the other empty rooms?
Yep!
I should have done this instead of buying a single family home
@@codyzimmer9257 same here i bought 3 single family homes with va loans… should have bought fourplexes
Hello. What will be the best strategy to buy a second property with VA Loan here in Puerto Rico? or can you direct me to who I should talk here in Puerto Rico, please? I bough a Duplex with VA Loan on January 2023 and I want to create wealth.
I'll be at my current duty station for more likely the rest of the career. How long do I need to wait until I can take a second VA loan and it not be considered Mortgage Fraud? I understand the "Intend to reside" but if the lender doesn't provide a time limit on the months/years you need to occupy, how would you know what the minimum requirement is?
6-12 months depends on situation
There might be qualifying life situations that will help you to move into a different home (upgrade) quicker than you might think . . . but traditionally speaking, it’s 12 months. Of course, if you PCS, Deploy, etc things might shift
I have a friend who owns 50 rentals and he lost track of one completly and doesn’t know where it is would a lost asset/property search help him find it?
Any thoughts on HELOC strategies using Open ended and interest only payments yo purchase more rentals ?
Would this be the same for Veterans?
Absolutely!
For vets would ir be the same ?
Essentially yes! But I always recommend reaching out to our team to figure out your particular situation! :)
Excellent
So ny question would be if per say i get the va loan and i am living in it am i allowed too rent out the other spare rooms while im living there so my main residencey
Yes! House hacking! You sure can :)
Haha yes and no!! Great info!!