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Updated about 12 years ago on . Most recent reply

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235
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Brandon Proctor
  • Wichita, KS
46
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235
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Starting out need help.

Brandon Proctor
  • Wichita, KS
Posted

Hello BP I'm sure I'm the least experience and know the least about REI. I have been reading numerous forums about starting out in RE for the past few days and I must say I am very excited in trying my hand in this business.

I am a 25 years old and I'm currently stationed in Cheyenne Wyoming (Air Force). I have a wife one daughter and another child on the way in August. As you all probably know I have a full time job I'm the Air Force, I would like to learn as much as I can about starting out in REI I know it's not easy and will take a determined individual which I know I am. I would like to start out small with little risk, I was thinking bird dogging or wholesaling. I'm just not sure how to make that first step.

Any and all advice is welcomed. Thanks you all in advance.

Most Popular Reply

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299
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William Bannister
  • Commercial Landlord
  • Oshkosh, WI
88
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299
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William Bannister
  • Commercial Landlord
  • Oshkosh, WI
Replied

Form 26-1880 for VA Loan certificate
The law requires a veteran obtaining a VA guaranteed loan to certify that he or she intends to personally occupy the property as his or her home. As of the date of certification, the veteran must either (1) personally live in the property as his or her home, or (2) intend, upon completion of the loan and acquisition of the dwelling, to personally move into the property and use it as his or her home within 60 days after the loan closing (reasonable).

The above requirement applies to all types of VA guaranteed loans except Interest Rate Reduction Refinancing Loans (IRRRLs). For IRRRLs, the veteran need only certify that he or she previously occupied the property as his or her home.

Here is what u need to qualify at a bank with your certificate,
Social Security numbers
Residence addresses for the past two years
Names and addresses of your employers over past two years
Your current gross monthly salary
Names, addresses, account numbers and balances on all checking and savings accounts
Names, addresses, account numbers, balances and monthly payments on all open loans
Addresses and loan information of other real estate owned
Estimated value of furniture and personal property
Certificate of Eligibility and DD214, (for veterans only)
W2's for the past two years and current check stubs
For self-employed individuals, you will need to provide personal tax returns for the past two years, current income statement and balance sheet for the business
In addition, you will need to pay for a credit report and appraisal of the property.

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