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Updated over 8 years ago on . Most recent reply
House hacking with VA loan
Hey BP!!! I'm wanted to buy my first property within the next 10-18 months. I want to use a VA loan to purchase and I'd ideally like a 3-6 unit multiplex and to live in one of the units rent free with the goal of immediate cashflow. How does a VA loan impact buying a multi family property if there's any difference? What are some considerations I should be taking into account as far as numbers when looking to buy a property for immediate cashflow?
Most Popular Reply
Hey Darius!
It all really depends on what you find.
Jassem is correct in that you can only use a VA loan on residential property (1-4 units)
You will need to live in the property for at least a year unless you are moving out because the army is moving you around.
Cashflow is dependent on many factors. I invite you to seek out the Ultimate Beginners Guide, here on BP and learn about how to analyze real estate deals.