Veterans Land Board, Foreclosed Land Sales

[Wes Brumit]

I have an opportunity as a vet to purchase raw land from the Texas VLB before the tracts are offered to the general public. I was wondering if there was anyone else doing this? What do you do with the land? Is it feasible to wholesale? Any waiting periods you know of?

The VLB will let me purchase the tract for 5% down, financing available at 6.75%. My thought, if its possible, would be to borrow the money from private investor, buy the land, then sign the deed over to the investor for a fee. Are there any issues here?