Experienced MultiFamily House Hacker in New Jersey ( VA homeloan)

[Kimarley Gayle]

I am a beginner real estate investor who is interested in using my Veteran Home Loan to purchase/invest in a multi-family home (2-4 units). I have done extensive research over the past few years, and I am ready to begin this journey. I am renting in Hackensack, New Jersey but would like to broaden my search to Union City, North Bergen, Cliffside Park, and all surrounding areas. I commute to Clifton, NJ for work and because of traffic conditions, I would essentially like to keep my commute time within one hour. My budget is $600-700k and with my VA Home Loan still at its maximum capacity (never used), I have been researching pros and cons and comparing FHA loans, conventional loans, and potential lenders. I would love to connect and consult with anyone who has experience using their VA Home loan for a multifamily home purchase.

[Natalie Schanne]

@Kimarley Gayle - Hello! I'm working with several vets who are using their VA loan to get financing for their homes. The trickiest part will be finding you a good deal. If you can get into a 3-4 unit, it will be a great investment opportunity (subject to the numbers). Remember a lot of multifamilies in New Jersey are quite old properties so if you're renting any kind of luxury apartment, it will be a shell shock until you renovate it.