VA loan to Refinance

[Mark Brookman]

Hello fellow investors. Hoping to get creative with a VA loan, interested in hearing everyone's thoughts.

Currently, in San Diego County, I have my VA loan available to me. Looking at purchasing a house for around 550k with the VA loan, no money down. Looking for 3bed, 2ba home that needs updates (minor fixer). I have about 40k avail for updates. I'm curious if living in the house while doing renos over the next two years will create an opportunity to cash out refinance the property, so I can move out and keep it as a rental. Interested to hear everyone's thoughts. Thanks!