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Updated over 2 years ago,

User Stats

8
Posts
2
Votes
Keaton Hill
  • New to Real Estate
  • Oklahoma
2
Votes |
8
Posts

Starting out with little to no money, which method is recommended

Keaton Hill
  • New to Real Estate
  • Oklahoma
Posted

Hello, My name is Keaton 

I am currently in Japan looking to move back to Oklahoma in September, Upon arrival I am looking to purchase my first single family or multi family house that will start my investing journey. I will have $10,000 in savings with being straight out of the military I will be unemployed therefore it is difficult to get a home loan, even from the VA. I will have to rent for a few months until able to get a job for the time being, (or are there banks that will approve a home loan without current employment?). If possible I would like to stay away from renting and preferably would like to purchase a single family house or multi family while I am currently still in Japan and while I am employed unfortunately the VA denied my request, is there any guidance on that or am I stuck on renting and waiting for employment once I return?

For the start of my investing I plan on buying homes then renting them until I earn enough money to conduct he BRRRR method.

when purchasing a property can you utilize a conventional home loan or do you have to purchase as an investment property? or once you live in the property and decide to move and rent that property out does the loan change from a conventional loan to an investment or does the loan and the rates stay the same? ( if I am way off track please let me know because this has been confusing me for months? 


Thank you for your time.

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