All Forum Posts by: Aya Caliva

@Chris Mason Great, thank you Chris!

Hi all, 
So I have a question regarding to FHA 203K loan.

After all the renovations are done by professionals and we move in using FHA 203k loan, we are not allowed to do ANY fixing? Even minor ones such as painting cabinets or exchanging cosmetics like knobs or shower head...? Just as examples.
All the articles I read hasn't mentioned clearly that I can not do anything else to raise a value of the home, so wanted to clarify. From what I can see, I can probably do anything that they did not think it is a major thing that need to be fixed right away..? 

It seems like a silly question but let me know if anyone knows from your experiences or you are the expert! 

@Erica Osborn
Glad to know we have few things in common! both military spouse, living in VA beach and love real estate investing :) My husband tend to like stability rather than challenge talking about finances and like to think that REI is difficult. But he is not against the idea as well. I think all he needs is just to have the right mindset which he can get by just listening to bigger pockets podcast or reading Rich dad Poor dad.. I've been encouraging him to do so! lol
Thanks for your response and we'll keep in touch Erica! 

@Kevin Hunter Thanks for the resource Kevin! I've just left a message for the question so that they can get back to me later.  

Thanks @Account Closed! Great to know somebody else did that actually! 
I think I've heard before that the 2 properties has to be away about 30-50 miles away each other? I'm hoping to purchase at a same location which will be probably only 3-5 miles away.

@Erica Osborn That's right, live in flip! :) As a military family who moves every few years, it seems like an perfect choice for us since I love all the renovation projects. FHA loan is definitely another great choice for my situation.
I'm hoping I can get some equity back from this house and use that money for the next property like you mentioned. I've also saved up about $40000 to put into it. The problem is, my husband are rather stay here until our next transfer because he thinks it's too much works and too risky. I like to take a risk and I'd rather not to wait if I find a good deal. I don't know if I can convince him but If we ended up staying, I still want to keep saving up so that we can have more options to chose from at a next location. 

Thanks for your response @Fred Shatzoff! I've heard if you get transferred to the next station, I'm allowed to use a first home as a rental property (or sell) and buy a next house with VA loan again. I wasn't just sure if I am allowed to do it at same location.

Hi all, I have a question regarding to VA loan to buy 2nd property.

We own a single family house with VA loan in Virginia beach and thinking to purchase 2nd home in a same area using VA loan. Is it possible or we can only get qualified for it when we get transferred? My idea is to find a cheaper house in a same area with great potentials, sell the first house, move to the new one and flip while we live.
I've already done major renovations for the first home and hoping to find another project before we get transferred which is probably in 1 1/2 year. 

I hope you can give me points I'm missing or any advices will be appreciated! 

@Jonathan New Thanks! Congrats for finding your flip deal! I’m excited for your new journey :)  Looking forward to learn from you and other military investors in the future. 

Thanks all for the warm welcome