All Forum Posts by: Chris Markarian

@Forrest Williams @Jabari Long

Dang thank you both. That's so much easier. I didn't know the VA has that program. On it! Thanks

@Jason Wray

Thanks for the heads up; had no idea that would be an issue. Actually it was an idea floated to me by someone else who is a RE investor. He said since the LLC is the original owner, not me, it wouldn't matter, but now I see different.

Thanks again for the heads up there..ok I'll have to think of another plan then.

Hello all,

Long-time lurker, and recently decided to get serious and commit to action. I am interested in BRRR, Multifamily perhaps, maybe even fix/flip. Anyway, for my first deal, I had an idea, and wanted your input (be as critical as you want, please).

I still have my VA mortgage loan benefit unused, and recently was approved for ~$700k, and I'm in Utah.

My idea is to find a distressed property which requires rehab, and one that would ARV around $500-$600k, use hard/private funds, complete rehab, and then "flip" the house to myself as a purchase with my VA loan.

As an example, I create an LLC, find a distressed property for say, $450k, acquire the hard/private funds, rehab $50k, purchase for $550k with my personal VA loan, put $50k in my pocket and now I have some capital to put down on my next venture.

Thoughts? Suggestions? Does that sound too simple (not easy, but simple)?

Thanks in advance.