All Forum Posts by: Michael Andre

Hello all! 

I have a few questions about understanding the VA loan limits. My wife and I are looking to purchase a fourplex to get started with our real estate investment. When we look up the loan limits on the government website it lists the loan limit in four different categories; one-unit limit, two-unit limit, three-unit limit, and four-unit limit. We do understand that we still need to qualify for the amount based on our income to debt ratio. We are just not understand which loan limit amount is available to us for a fourplex.

Does the four-unit limit count for a fourplex?

Also, if purchasing a fourplex with the VA loan do all of the units need to be purchased under one pin number, or can you purchase them using separate pin numbers? This makes a huge difference when looking at the market.

Edward Barnes, 

Thank you for that advice. I did not think of it in that way. That is definitely something to consider.

Hello, 

As recently posted my wife and I are interested in real estate investing. I am active duty military and we both know we wont be able to buy our dream home and raise our family in it because we will be moving quite often. We feel that getting into real estate investing is a good alternative that will likely set us up for our dream home in retirement. I do have the great benefit of using the VA loan however, where I am stationed now we are already renting a place. To use the VA loan to purchase a single family home would require us to move once again which is costly, not to mention it would be the sixth time in 3 years for out family. We are looking for a way to purchase a home and not have to live in it, something we could purchase and rent out immediately and put no money down. We are stationed in Champaign, IL at the University of Illinois. We will be here until the Summer of 2020. We will then get stationed at Quantico, Virginia for about 9 months possibly a year, but we can never be sure.

We were also thinking about using the VA loan when moving to Quantico. My wife's family lives there so after we move out and starting renting the house her father would be and excellent hand in helping with the property. But then again the requirements for the VA loan are that you live in it for at least one year and we just can't be sure we will have that time there.

In short, we are seeking advice from anyone who has been in a similar situation. As I am sure there are many options we aren't thinking about. 

Thank you in advance for your time,

Michael and Sarah 

Hey everybody! My name is Mike and my wife and I are just in the beginning stages of investing and wanted to ask some questions and make some connections. I am an active duty Marine so my family and I are always moving and we really want to get into investing. Our questions are probably going to seem pretty stupid basic but I figured the best people to ask are the ones in the game now. So here are the questions:

1. Before buying our first rental property, do we need a business license(s)? 

2. What is the first step? Is it finding a property? Is it obtaining licenses? 

3. Is a duplex or threeplex the best place to start or if something bigger comes up, should we take advantage of that?

4. Any newcomer suggestions?

Thanks for the help!