All Forum Posts by: Darrell D.

@Kyle W.

I agree it is fantastic.  We're definitely headed in the right direction.  

However, it's amazing to me how little information the veterans know about their benefits. Rarely do they know you can use the VA loan more than once. I've been thinking about teaching at the local base on occasion to spread the word. I could write a book but I think they're outdated. Everything is own Youtube now or they won't pick it up.

I currently have three VA loans but now I want to sell them just to take advantage of the program.

I believe you're able to do a title search after you do the bid.  If anything comes up, you might be able to withdraw your bid.  At least that's the way it is here for foreclosures.  

I've had success bidding on foreclosures.  I think it's important to know how houses are built in the different eras.  For example a newer build will have copper or pex pipes, PVC drains, insulation, poured concrete basements or foundations (no block walls), and three-wire electrical.  I do as much research as I can and pull the trigger.  

Like with any auction, it doesn't help to bid early.  You're only raising your own bid because someone will come behind you and bid higher.  Wait until the last minute or be present at the auction if possible and bid with confidence.  

In 2018 I wrote an article about how I used VA loans to build my portfolio. I maximized the VA loan entitlement and unfortunately the program limited how much I buy. Now however, it's a completely different.

My 2018 BP Article

The current VA website...

VA Link

Effective January 1, 2020, there are no county loan limits for Veterans with full VA home loan entitlement.

However, county loan limits still apply to Veterans who have previously used, and not restored, their VA home loan entitlement to purchase, refinance, or construct a home above $144,000.

Your entitlement can only be restored when the property is sold, or the loan is paid-in-full. If you want to purchase another home without fulfilling these criteria, VA will only guarantee your total outstanding loan amount up to the county loan limit of the home you wish to purchase next.

There may be other restrictions such as how many you can have or how many in a single city. At first glance though, it looks like investors can go as high as they want (while still qualifying for a loan) and as many times as they want. Every investor tries to invest without money out of their pocket. This makes the VA loan so powerful. Without limits I can't imagine what this will do. Every veteran should know about these benefits. I built a nice nest egg but it could have been bigger with this new program.

Trump signed this into action BTW.

I appreciate the replies.  I haven't been to a conference yet... which is another way to network.  I'll check my schedule.  👍

Just about every YouTube channel has a something for sale now but I'm really not interested in what they have. However I would totally wear BP gear. To me it's a critical part of networking and staying active even when... you're not.  Would BP consider selling gear?

@Edwin Campos

1. I bought my first house which went up in value.

2. I left the area and rented it... let renters pay off mortgage and waited for values to increase

3. I bought another after the market crash. Rinsed and repeated

4. I kept buying after each military move... every couple years

5. Sold first two houses and bought 4 foreclosures.

Good points @Lesley

I still don't know what their purpose was for the property.  Was it for flipping,  rental, or maybe Airbnb? I've never seen a house sold  or rented by Zillow as the owner.  I'm assuming the business name changes after the purchase.

Hello everyone.

I've done three evictions in the past but I haven't seen the county ask for a social security number. I've heard that evictions affect credit but I don't see how they could unless a landlord specifically notifies a credit agency of a judgment. Any enlightenment on the process or issue would be appreciated. I'm not looking to nail anyone... it's just a question I'm curious about. Thank you

Hi Kiss.

No it wasn't used during the process.  Of course I used it to evaluate their first offer but other than that, no it really wasn't used.