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Updated almost 6 years ago on . Most recent reply

User Stats

4
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1
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James A. Letwinsky
  • Maryland
1
Votes |
4
Posts

Start my REI journey with a VA loan?

James A. Letwinsky
  • Maryland
Posted

Hello BP community. I am currently active duty military, stationed at Fort Meade. I am reading books and attending meet-ups and just simply put, hitting the ground running however I can in the hopes of getting as much knowledge and collecting as many contacts as I can. My investment focus is rental properties. On top of this, I will be enrolling in grad-school while I am stationed here.

My question(s). Because of time restraints with work and school, and the availability of the VA loan (which I'm approved for), Is it in my best interests to use my VA loan since I have it? Also, I don't have much personal capital to invest. Given all that I am juggling, is it possible to manage a BRRRR property once I find a lender or should I rely on the VA loan even though it may not be applicable to a property that is in need of rehab? I am still working to boost my education but given what I put in the forum, any advice or tips would be greatly appreciated. Thanks in advance.

Most Popular Reply

User Stats

4
Posts
1
Votes
James A. Letwinsky
  • Maryland
1
Votes |
4
Posts
James A. Letwinsky
  • Maryland
Replied

@Stuart Grazier: Thanks for the response and the guidance. I'm limited due to not having much cash on hand but was looking to house hack with VA loan. Since I only need to worry about myself doing this, its an easy decision to be a live in landlord and get some experience. My next hurdle is understanding the MD market around where I work. My goal is to buy and hold at least two properties before I rotate through the area in three years. Thanks again.

@David Pere: I have read your other posts. very helpful. Thank you for looking out for me. 

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