New Member From The Show Me State

[Nicholaus Meyer]

I am a Federal Employee trying to diversify my investments through real estate. I currently own one rental property in a small suburb of Springfield Missouri and am on the verge of investing in a second inside the city limits. My primary residence and rental property were purchased through a VA home loan. For my next property I will be using conventional loan options.

[Nicholaus Meyer]

Reply to all! Thanks for the hospitality my Missouri fam! I was born and raised in Springfield and with the colleges, wonderful downtown, revitalization of commercial street plus all of the local and large National companies ( also the breweries Laura) that have made this great city their home I just see so much potential.

The reason I was able to utilize the VA loan twice was because I bought my first home ( with a VA loan) in a Springfield suburb. I lived in this home for three years (to receive a VA loan it must be your primary residence). I then decided I wanted to live in town and have more room but I saw the potential in keeping this house as a rental. Here's where things get slightly complicated. The VA gives you a certain amount of "eligibility" you qualify for. Since my first property was not a mansion by ant means I still had some "eligibility" left. I used this to purchase my current residence. I learned two things from this transaction. 1) Not all lenders even know this is an option. 2) it is very helpful to find a lender that is very familiar with the intricacies of a VA loan.

I hope that was helpful but keep in mind I am a newbie and some of my verbiage may be slightly skewed!