Looking to Complete my first Deal

[Jayden Gales]

Hello all. I am new to Real Estate and plan to use the BRRRR strategy to purchase my first property. I have been on the MLS researching different properties that can become my first deal but I have not made any offers. I have set myself up with an agent automotive and I use the properties' prices to get familiar with the BP calculators. There have been a few properties that stand out to me but I cloud my mind with many questions. A few of those questions are:

~ Should I use the VA loan or the FHA 203k loan to fund the property?

~ Are contractors covered in the loan?

I am seeking any knowledge and guidance that can help me close my first deal. Thank you.

[Jonathan Greene]

BRRRR doesn't match with VA and 203k as they are owner-occupied loans as others have said. Also, a VA loan is a straight loan where you can use no money down which is a great advantage as a veteran versus a 203k loan which is a rehab loan which requires a 203k facilitator and contractor and the contractor gets paid in 4 draws that have to be approved first. Most 203k contractors are not going to want to work with a first-time BRRRR or house flipper because it will not be smooth.