All Forum Posts by: Account Closed

@Jacob Elbe 

I feel turnkey with property managers is the way to go for me right now. I know I'll lose some profits but I'm afraid of having to deal with tenant issues as a landlord while I'm TDY or in the field for a month at a time.

Right now I rent, so I do plan on buying a house soon and while most may not consider that an investment, my BAH savings will be significant.

@Jacob Elbe Thanks for the reply. That definitely supports what I've heard from others as far as an eligibility around $400K and the ability to use it again after a PCS but I couldn't find that stated any where in VA Lenders Handbook (VA Pamphlet 26-7). Is there any risk associated with this as far as adverse actions the VA or the lender can take?

Also I wonder if it requires a PCS to be able to use another part of the entitlement or if you can use the remainder of the entitlement in the same city as the first for another "primary residence" after meeting some minimum time requirement in the first.

Oops didn't realize I put this in the starting out forum. Is there a way to move it to a more appropriate forum?

Is anybody familiar with the occupancy requirements associated with VA loans? From my research I've gathered that it has to be a "primary residence" and you must occupy within 60 days of closing (up to 12 months under certain exceptions).

I've heard that if you PCS (transfer to a new duty station) you can take out another VA loan on a new property while maintaining the former as a rental property. Can anybody confirm this? or is the entirety of the VA entitlement "attached" to one property at a time?

@Matt Slykhuis @Elizabeth Colegrove @Paul Timmins 

Thanks everyone for the welcome! I've started the podcast marathon and read the beginner's guide. Unfortunately there are no REIA clubs nearby (closest one I've found so far is an hour away) but I'll keep looking.

Hi, my name is Spencer. I'm currently stationed in Watertown, NY but originally from Los Angeles. I work as an active duty Army officer by day and looking to pursue real estate investing by night. I'm interested in buy and hold properties and recently started making a serious effort to learn before diving in (thats when I found the BP website). It seems like an awesome community with a wealth of knowledge and I'm looking forward to participating!