All Forum Posts by: Gabe Santa Cruz

@Will Fraser

Would you mind sending that my way as well?

Thanks!

My wife and I are currently looking to use my VA loan on a home that needs some repairs. Our plan is to live in it, fix it overtime, and either sell it down the road or hold it as rental. I've used the VA loan before without any major problems; however, our previous home was a turnkey and needed nothing.

I know that appraisers are under stricter guidelines when it comes to VA loans and depending on what the issues are the VA will refuse to finance the home. We've already found a home that we really like but know that some of the issues needing repair are going to send up flags without a doubt. Keep in mind that we have not actually been in the house yet, but just from the photos I can see that a bathtub has been ripped out of the second floor and there is essentially just disconnected plumbing, wooden i-beams, and a hole going to the first floor. I'm assuming there may have been some kind of overflow or something that ruined that section of the house.

At any rate, I still need to go see it but as it appears in the photos, I'm confident I could remedy the issue myself. How do I get around this issues with fixer-uppers and still use my VA loan?

Thanks!

Hey Bigger Pockets! My name is Gabe.  Originally from Ft. Worth, TX, I am a 31 year old husband and father of two beautiful girls.  I currently live in Duluth, MN and have been for the past 2 years, but will be relocating to Southern California at the end of this year to start a new job.

Formerly, I served in the Marine Corps for 9 years as an Air Traffic Controller and had the privilege of living in both North Carolina and California as well visiting various locations all over the world.  After making the decision to separate, I continued working as a Controller for the Federal Aviation Administration which brought me to Duluth.  I never found much satisfaction in Air Traffic Control (although it has taken great care of me and my family), so I made a big decision almost 3 years ago to try and become a Los Angeles County Firefighter and do something that involved serving others in a greater capacity.  After some time and a lot of prayer, I was finally offered a job with the County!  With all that said, I am set to leave Duluth mid-November and will be in the Los Angeles County area soon after.

My goals are as such: Purchase a multifamily property in Southern California, occupy one unit with my family and rent the remaining out.  Assuming my wife and I find that we enjoy the experience and can manage the property successfully, we intend to make purchase on 17 occupied units in Texas owned by my Father-in-Law within the next 5-10 years.  Further down the road, I plan to purchase increasingly larger commercial properties as well as starting a couple of side businesses.

We are ultimately looking for financial freedom and to be able to pass on something big that could impact our family for generations to come.  We honestly believe that real estate is our chance.  I would love to continue working as a firefighter, but I don't want to have to solely rely on working for someone else to get the life that my family and I want.  I don't have any experience in real estate, save for purchasing and selling our first house, so I'll be asking a ton of questions, looking for resources, and expanding my knowledge as far as I can.

Thanks for your time and I look forward to meeting many of you!