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All Forum Posts by: Nicholas Halterman

Nicholas Halterman has started 4 posts and replied 6 times.

Hi all,

I'm currently looking to get into the real estate investing game. I've heard the pros and cons of both a single-family home and a multi-family home. One of the major pros for a SF was that it tends to be easier to handle and it appreciates in value more than a MF would. 

I wanted to see what would you all do if you were in my shoes? I'm looking to use the VA home loan. SF is winning me over at the moment because I'm a beginner, but I'm sort of stuck in analysis paralysis right now trying to decide.


Thanks in advance! 

Nick

I am looking into a multi-family property and I am curious whether or not the VA home loan has a limit I could use? Does anyone have any insight on this? Thanks.

Quote from @Jason Wray:

Nicholas,

You do not need to put money down if you have your certificate of eligibility DD 214. You qualify for 100% financing and the closing costs can be covered by getting "Seller credits" which is fairly common in this market. You can also target 2-4 unit multifamily homes like a Duplex or Tri-plex to help take advantage of the other unit rents. Those rents qualify as income to afford a bigger home loan and to offset the mortgage payment.

Its also a great way to move out and have a multi-unit property bringing in more cash per month with more doors. You can refinance it into a conventional loan in 12 months and then re-use your 100% VA benefits on the next home.

If you have any questions feel free to reach out I enjoy helping and talking REI!


 Super helpful.This community is always giving. Looking forward to paying it forward one day. Thanks a lot Jason.

I've been in the National Guard for over 6 years and was deployed. I have the VA home loan benefit right now and I am not sure if putting money down on the VA home loan would a smart move. The reason why I am asking for advice on this, is because I just now started to save for a down payment on a house and I am looking to move into my first home next year. My overall goal is to house hack the property, but at this rate, I would have to save a significant amount per month to put around $5-6k as a down payment. I was thinking of using these funds for the closing costs instead. Any advice on how to go about this the smart way? I am looking into multi-family homes primarily. Thanks!

Hi everyone, my name is Nick. I recently separated from the National Guard after 6 years of service. I was deployed and obtained my VA benefits. I'm looking to get started in real estate investing. My first move would probably be house hacking a single family or multi family home, depending on what is in the market for me. I'm looking into possibly using the VA home loan. Has anyone here used the VA home loan before to start their real estate investing experience? Any tips?