All Forum Posts by: RaShandra Collins

Hello RaShandra, and welcome to the BiggerPockets community! It's wonderful to see your enthusiasm for real estate investing, especially as you look to embark on rehab projects and explore the potential of the VA loan for investment properties. Here are some insights and suggestions to help you get started with military investing:

Using a VA loan for an investment property can be challenging, as VA loans are typically reserved for primary residences. However, there are a few options to consider:

If you plan to live in one of the units, you can use a VA loan for a multi-family property (e.g., a duplex or triplex) and rent out the other units. This is known as house hacking and is a strategy that some military personnel use to invest in real estate.

Another option is to use a VA loan to purchase a fixer-upper as your primary residence. You can then live in it while renovating, and once the renovations are complete, you could refinance or sell the property as an investment.

If using a VA loan isn't feasible for your investment property, explore other financing options like conventional, FHA, or private lenders. Please be sure to speak with a mortgage broker or lender to talk about your specific situation and explore financing possibilities.

It's excellent that you're actively seeking a mentor and connecting with local investors. Building a network in the real estate community can provide valuable guidance and support as you begin your rehab projects and real estate investing journey. Remember to continue learning and researching, as education is key in this field. Best of luck, and enjoy your journey into real estate investing!

Hey there Dock, thanks for the welcome! I am looking forward to learning and growing. It's taken me a while to decide how I wanted to invest but now that I have chosen a niche I am ready to move to the next step. I have been letting fear keep me stuck for a while, mainly the fear of analyzing a deal wrong and the whole deal going down the drain. This month I decided to change my mindset, trust the knowledge that I have, and to seek out a mentor to help me where I may be lost and hold me accountable. Thanks for the the VA loan information, it definitely gave me some options to explore.

0 Votes

Savannah, Georgia

Quote from @Alex Chiapetta:

Hey RaShandra, welcome to the community! I am an active investor in Savannah doing BRRR and Flips while being Active Duty Air Force. There are a few great groups in Savannah that host events I go to. Check out these three:

https://www.facebook.com/groups/savannahreigroup/

https://www.facebook.com/groups/cashflowsavannahmeetupga/

Hope this helps!

-Alex

@alex

@Alex Chiapetta thank you so much for the warm welcome and providing the group information! I am going to check those out now. Thank you for your service!

0 Votes

Savannah, Georgia

Good morning BiggerPockets family! My name is RaShandra (ra-shawn-dra) from Texas currently living in Savannah by way of the army. Been married for seven years and have a beautiful blended family. I have been a pro member for quite some time trying to learn and understand the real estate game. After a few years of research I would like to start with rehabs (seems to be the easiest way to get your foot in the door as a newbie). Looking for a mentor and/or to get connected with other local investors, are there any real estate meet up groups in the Savannah, GA area? I signed up for a group but it is based in Atlanta which doesn't work for me.

Also, my husband is in the Army and we used the VA loan for our primary residence. Just wondering, is any way that we could use the VA loan towards a second property/investment property? There has been some changes that have taken place with how the loan can be used and I would love it if we could use that as an option.

Thanks in advance for the help and I look forward to learning from everyone!

2 Votes

Savannah, Georgia

All Forum Posts by: RaShandra Collins

RaShandra Collins has started 1 posts and replied 3 times.

Post: Meet up groups/Using VA loan for investment property

Post: Meet up groups/Using VA loan for investment property

Post: Meet up groups/Using VA loan for investment property