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How to get a property you own personally into an entity
What is the best (cost effective) way to transition a VA Loan purchased primary residency, into a rental property in Washington state ?
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Brian Garlington
- Realtor
- Oakland, CA and a Real Estate Investor with Multi-Family Units and a Self Storage Facility
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Not being a jerk....but simply move out of it and start renting it out. The VA does not need to know you've moved out.
Now if you want to use the VA Loan again.....refi out of the VA Loan into a conventional loan WHILE YOU ARE STILL IN THE PROPERTY SO YOU GET THE OWNER OCCUPIED RATE. Once the refi goes through,...get qualified for the VA loan again, then move out of the house,...put a renter in your (now former) house you were living in, and owner occupy the new property for at least a year.....
Repeat.