All Forum Posts by: Jeff Frankenfield

Thanks guys for your responses. I really appreciate you taking the time, and it saved me a bunch of time as I was trying to search various VA loan sites with little luck. A friend of mine recommended I reach out on Bigger Pockets, and sure enough you guys added clarity. I think I must have come across with shady intentions based on the feedback, but I absolutely was not. Although I have a bought a house before, I am new to the real estate thing and trying to learn some of nuances of the law. For example, I can work from anywhere and have customers in Texas, so in theory I could (and would) spend half my time there if it meant the ability to start things in real estate. I didn't mean to try and pull anything over on anyone, which is exactly why I wanted to ask these questions on a public forum. My questions may have sounded obvious or ridiculous, but Bigger Pockets is always talking about creativity in real estate, so I thought it couldn't hurt to brainstorm. Lesson learned. Thanks again for taking the time guys. Looks like I need to figure out a different way. All the Best, Jeff

Hi everyone, I am a veteran and would love to use my VA Loan to buy a multi-tenant dwelling unit in Texas, keeping one of the units as my own for when I am in town and renting the other ones out. I currently rent my place in California (so I don't own a principal/primary residence currently) and can't move as I have kids in school here, etc. My VA Loan limit isn't high enough to buy property where I live so I am looking out of state for options. I have the ability to travel to Texas as often as needed for work, etc. and can bring the wife and kids out for the entire summer. But, during the school year it would pretty much be me going to Texas to work, begin real estate investing, flipping, etc. - the point is I could be there a lot, just not sure how much yet. I believe the VA Loan can only be used to purchase a primary residence. Given that I currently rent in California, could whatever I buy in Texas be considered a primary residence since it is the only property I would own? I doubt it but want to ask anyway. Any idea what the minimum requirements are to claim something as a primary residence? My understanding is that it is vague and you just have to "spend most of your time there" - which I could do, but my kids would still be in school in California, so not sure if that automatically makes my California place that I rent my primary residence. Thanks for the feedback, guidance, and recommendations. -Jeff