Wannabe Investor - VA Benefits - Illinois - Flip/Buy&Hold

[Zachary Mroczkowski]

Hello Everyone,

My name is Zach and I am new to the concept of real estate investing. Been following Bigger Pockets for a couple weeks now listening to the podcasts as well as doing some heavy reading. Just did the SMART real estate investing webinar last night, which was awesome! Little back ground of me, I was in the military, did 4 years and then went into school to study business focusing on small business and entrepreneurship.

While in college I always knew that I wanted to work for myself. Real estate, more so flipping and buy and hold, was always in the back of my head. While in college, I invented a product and I just received a patent as of March 12th. Ive been handling all the small business operations since I started and I say this not for promotion but to let you know that I am all about the grind, determination, persistence and resilience that is required to be able to run a business. Im not motivated by the end goal but am in love with the journey of it all. I think flipping and buy and hold is what I would really enjoy doing.

ANYWAYS.

Ive been looking to get into real estate for a couple years now. I went through the VA loan process but never pulled the trigger on it because I felt like it wasnt the "right" time. Frankly I dont think any time will ever be the right time so I just need take a step forward and do it.

IIm interested in house hacking to start, but very interested in flipping and buy and hold properties. What Im not 100% on is if the VA loan would allow me to use it in those ways. Is there anyone who could offer some advice or has had experience dealing with that in the past?

Also, looking to connect with people in the Illinois area, specifically around Kankakee County. Would love to chat about finding deals considering the pretty high property taxes. (or other states with high property taxes) 

I hope I was clear. Wisdom and constructive criticism are welcome :)

Thank you for your time and feedback!

Zach 

[Brook Boatman]

Hello Zachary! I am currently active duty Navy and have been reading up on the VA loan. The VA has strict requirements regarding the home's condition, so buying a home to flip may not be possible. Additionally, the house must be used as a primary residence (for at least a year). That being said, buying a turnkey property (needs little to no work) and/or a multi unit (4 or less doors per the VA) and house hacking is one great option.