All Forum Posts by: James Baker

I wanted to see if anyone could help me out with a VA Home Loan question. I am looking for the absolute best deal on duplex in the Grand Rapids area. The problem with VA is, they pretty much make it so the property has to be turn key at purchase which makes it difficult to find the deals. Are there any other avenues to taking advantage of the loan?

Thank you,

James Baker

@Brie Schmidt- Thank you for responding. I apologize for the lack of clarity. I am terrible at articulating my questions. Myself personally am excluded from the FHA loan at this time because I currently have a VA loan and you cannot have both simtaneously. I am looking to get some landlord experience through my girlfriend and I purchasing a FHA multi-family. Only my girlfriend will be occupying the house full time. I would ONLY be a co-borrower and will NOT be residing at the investment property because I am occupying my VA residence full time. I am asking if I could count the landlord experience through my girlfriend's investment simply by me being a co-borrower on the property?

I currently own a VA purchased property and am looking into to buying a second home for investment purposes. Because of limited capital my girlfriend and I are planning on using the FHA loan, (lower down payment), with her as the resident of the property and myself as a co-borrower. After a year or so I want to move forward using the FHA loan as landlord experience. My question is, can I count that time as a co-borrower towards landlord experience even though I did not reside in the house? I look forward to your information filled responses.

Thank you,

Renting to section 8 gets a bad rap.  Of course there are problems with all demographics.  After a thorough back ground check and feeling out the tenant, I chose to go with section 8.  The 13 months I had them, they were perfectly fine.  The only reason it was a short rental is because I had to sell.  Do you research and you will be fine.