VA Loan best method for first military home buyers?

[Cole Wasden]

Hey BP fam, I am a military member looking to purchase my first property. This would be a rental and is also my first home purchase. Is the VA Loan the best loan out there for me? Also, any further recommendations for my first home?

[Joshua McMillion]

@Cole Wasden

My advice would be the same as @David Pere. If you plan to occupy the home as a primary residence, the VA loan will allow a low barrier to enter the RE space. With the VA loan, you can purchase an SFH up to a four-plex but have to occupy the property for one year. There are ways to get around the time requirement, like deployments, but generally, you have to hold the home as a primary residence for the above timeframe. The beautiful thing about VA loans is you have up to 15 years to hold the property before your required to pay capital gains tax. This allows you to hold the property for cash flow, reap the appreciation, take the depreciation, can capture amortization. You can also purchase another property following your permanent change of station, depending on your eligibility level. 

Find a lender that knows VA loans and discuss the process with them. 

Sincerely,

Josh