VA Loan | This can make you RICH
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- Опубліковано 5 сер 2024
- The VA Home Loan is arguably the most valuable benefit for veterans if used correctly.
The standard method if getting into home ownership is proving harder and harder. The VA loan allows you to get into a home without paying 20% down or hundreds of dollars a month in PMI.
The best part - the VA loan can be used to purchase a property with 1-4 units, giving you the opportunity to become a real estate investor with nearly no money out of your pocket.
Get involved!
1. Study real estate
2. Find a lender
3. Apply for a mortgage
4. Find a realtor
5. Start shopping!
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0:00 Intro
0:55 Context
2:17 VA Loan Explained
3:14 Eligibility
4:29 Strategy
6:16 How to Get Involved
Dude, I appreciate your channel and the quality videos you put out! Super informative and the background research you do is apparent. Thanks man!
Thank you Patrick! Happy to hear you find them valuable!
Great video
Thank you!
I just graduated BMT and tech training. I read somewhere that the Guard (NG in general) are now eligible for VA loans as long as they have 90 days of active duty order. Since BMT and Tech school are under title 10 (my order says this) and it’s more than 90 days, does this mean I’m eligible for VA home loan or do I not because it’s an initial active duty training?
This is accurate. However, not every day on active duty is equal in terms of benefits. Training periods don't count. You'll have to go on federal active duty orders to accumulate the 90 days. Think COVID orders, border protection, etc. Schools don't count towards those 90 days.
So if I get a 4 unit home, live in one, who does the maintenance needed in the tenants homes? Do they?
The landlord (you) takes care of maintenance on anything to do with the property. It's really not a big deal. Don't let that keep you from the opportunity.
If you do not want to deal with the tenants, hire a property manager. If you are not handy, hire handymen. I recommend both. Your tenants are not your friends. And don't even treat them as neighbors for legal purposes.
You don't take into account the risk associated with going $1,000,000 into debt. I get it. You're a math guy, but risk is something you need to add to this equation.
I am not advocating for buying a million dollar home. I am saying that if done correctly it can make you a millionaire. Additionally, people consider the "risks" of investments all too much, but never consider the guaranteed loss when buying a car they can't afford or their general over consumption and spending. You can buy a househack with the VA loan that is still well within your means and do it very safely.
I’m the exact person you made this video for.
I’m a 25 year old college student, Not sure what I want to do career wise just yet and don’t know much of anything about real estate.
I have a few questions.
Have you used the VA home loan? If you did, for a house or for an apartment building to make extra money off of?
Would you say now is a good time to use the home loan? Or would it be best to wait a little bit.
I live in the Seattle area and have been interested to use the home loan for an apartment building to rent out like you said for a while now, just haven’t really known where to start in learning enough about real estate before I actually pull the trigger on getting a place. Just really don’t want to shoot myself in the foot on this one.
Awesome! I did use my VA loan. I bought a 2 unit property with it.
It's always a good time to use the VA loan. You just have to carefully pick which property to use the loan on. Be patient and do your hw first. Don't make any emotional decisions.
Check out my video here for a place to start: ua-cam.com/video/nwaPhQHjjpA/v-deo.html
Beyond that, I would start listening to Bigger Pockets Real Estate Podcast and the Rookie Real Estate Podcast. Listen to a ton of episodes, absorb information and read books people on there discuss.
I'll be making more videos about real estate in the future also since I work in it full time now.
Prices Will probably crash about 25% average nationwide , Buy the dip
Lol. I wouldn't wait, just start searching for deals.
Hopefully the housing market crashes so I can use the VA Loan to swoop right in and get a house with no money down 😁
Lol. Just gotta look harder and work on getting something off market. Idk if I would wait for it to crash.
If you are building wealth and can afford property investment, don't wait. Most real estates now cost higher than in pre-recession 2008. Just make sure to plan for recession or unemployment. (You must plan the worst regardless of where the direction of the housing market is.) Also, check the ratio of rent/buying in the location you want to buy.
Stagflation is here. Heading to hyperinflation. Housing market is already showing huge cracks, a year from now you'll get a property for a song.