I'm currently active duty and plan on using my VA loan to buy a Duplex or something bigger whenever I go to my next duty station. This is the video I needed to see. Thank you so much.
Physicians and other medical professional loans are the other group who can do a very similarly structured loan with 0% down. You just have to find a lender that has that program.
Thank you for the information, very informative. I have used Va loan before and I'm interested in purchasing a quadroplex in the future. I don't know if the information has changed but it used to be that you could have more than one VA loan out. Depending on your situation you can continue to use your VA loan for other purchases as long as you one have lived in the property for a year or if under orders move to another duty station. The caveat to having more than one depends on how much entitlement you have left. Example if you purchased a home from 200k the VA backs 20% of that loan. I don't remember the cap but say you are capped at $800,000 that the va will guarantee. You used $40,000 on this purchase, that means you still have $780,000 of entitlement left. As long as you live in your current VA loan purchased home for a year , you can purchase another property after that time. You just have to make that new purchase your home of residence. As far as I know you can continue to do this until you exhaust your cap. You just have to live in each property for a year before you can purchase another. Once a property is paid off the entitlement you used on it is restored.
Change to the change. I looked it up and my calculation were way off. So you are guaranteed up to $726,000 approximately. So if you purchase a home for $200k you still have $526k left for next purchase. If your next home is $626k you would be 100k over so you would have to come of with 25% of $100k for the purchase.
If I’m not mistaken I thought if you refinance into a regular fha loan, you can get your va loan all back. So you’ll use the va loan amount, stay in the home for a year, refinance into another loan, get back you va loan amount and rinse and repeat.
@@tcrawford8430I'm not sure if refi-ing to a fha loan would make sense. Reason I say that is with a va loan you don't have pmi, you will have pmi with an fha loan. Also I'm not sure but using the va loan you didn't have to make a down payment. Fha loans I believe are typically 3.5%. I don't know how it works with a refi, I only assume you would now have to put money down and acquire pmi as well. Plus add the fees of closing cost. Unless when you look to refi you have enough equity in the property. I believe you would get back your full entitlement though. That you would have to consult a realtor for the validity of these things. VA loans has protections to you as the homeowner that you would loss as well with a refi as well.
@@tcrawford8430you can also rent out the first unit in your example. You don’t have to refinance. If you rent it out you can still use the REST of your entitlement for another property. Multiple VA loans at once is 100% possible and not any type of scam or illegal. After a year of occupancy you have two options, not just a refinance.
I sold all my properties and my VA loan is paid off. I am in Texas and interested in possibly buying 4-plex if the number works out. I will then live in one of the units and rent the three. I am interested in Spring Texas. Thanks!
I currently have a va loan out on a single family home since 2017. Since then my home has appreciate in value. I keep hearing that I can on fact have 2 va loans out at the same time in order to purchase a duplex and live in in. I intend to live in the newly acquired duplex and rent out my current single family home... is this possible. I live in Florida, any suggestions? Thanks!
I just email your office with this very specific question: 32 years in the military, I never used my VA since Vietnam. After serving in 3 separate forces, disability and SSI, I need this help.
I know you guys are located in Long Beach, CA. I also live in Southern California, but most multifamily on Southern California is extremely expensive, old, mostly bad neighborhoods, and too many tenants issues. Not really a good location to buy. Definitely recommend in other states.
Thank you for taking the time to comment. Your concerns are very common and we frequently hear this from my clients. We don't see the potential in investing and out of state properties. Southern California continues to double value every 10 to 12 years that's where wealth is being made.
@@SageRealEstateding, ding, ding. Level 1 investors have to bite the bullet up front and level up from there. Aesthetics don’t equal equity 🤌🏾 I love this content btw.
All of this sounds really great. So Glad to hear you talking about this and getting all this information. So I am in Albany New York and is interestedin a multi unit. Who can I contact to start the VA process. Thank you.
We are doing our best. We are real estate professionals however, being on camera is not something that we were taught to do. But I get it. I've done my fair share of Toastmasters and we do need to eliminate the use of filler words. Thank you for watching we promised to get better.
I apologize we are trying our very best. We are real estate professionals and being on camera wasn't a skill that we worked on. But we promised to get better thank you for the feedback.
@SageRealEstate Hey, no worries. More importantly, I wanted to clear the air about Phoebe's incorrect statements about it depending on which branch of the military you're in... thanks!
![BLACK BAG - Official Trailer [HD] - Only in Theaters March 14](http://i.ytimg.com/vi/Du0Xp8WX_7I/mqdefault.jpg)
I'm currently active duty and plan on using my VA loan to buy a Duplex or something bigger whenever I go to my next duty station. This is the video I needed to see. Thank you so much.
Thank you for your service 🙏🇺🇸
Physicians and other medical professional loans are the other group who can do a very similarly structured loan with 0% down. You just have to find a lender that has that program.
Thank you for the information, very informative. I have used Va loan before and I'm interested in purchasing a quadroplex in the future. I don't know if the information has changed but it used to be that you could have more than one VA loan out. Depending on your situation you can continue to use your VA loan for other purchases as long as you one have lived in the property for a year or if under orders move to another duty station. The caveat to having more than one depends on how much entitlement you have left. Example if you purchased a home from 200k the VA backs 20% of that loan. I don't remember the cap but say you are capped at $800,000 that the va will guarantee. You used $40,000 on this purchase, that means you still have $780,000 of entitlement left. As long as you live in your current VA loan purchased home for a year , you can purchase another property after that time. You just have to make that new purchase your home of residence. As far as I know you can continue to do this until you exhaust your cap. You just have to live in each property for a year before you can purchase another. Once a property is paid off the entitlement you used on it is restored.
Sorry meant you'll have $760,000 left
Change to the change. I looked it up and my calculation were way off. So you are guaranteed up to $726,000 approximately. So if you purchase a home for $200k you still have $526k left for next purchase. If your next home is $626k you would be 100k over so you would have to come of with 25% of $100k for the purchase.
If I’m not mistaken I thought if you refinance into a regular fha loan, you can get your va loan all back. So you’ll use the va loan amount, stay in the home for a year, refinance into another loan, get back you va loan amount and rinse and repeat.
@@tcrawford8430I'm not sure if refi-ing to a fha loan would make sense. Reason I say that is with a va loan you don't have pmi, you will have pmi with an fha loan. Also I'm not sure but using the va loan you didn't have to make a down payment. Fha loans I believe are typically 3.5%. I don't know how it works with a refi, I only assume you would now have to put money down and acquire pmi as well. Plus add the fees of closing cost. Unless when you look to refi you have enough equity in the property. I believe you would get back your full entitlement though. That you would have to consult a realtor for the validity of these things. VA loans has protections to you as the homeowner that you would loss as well with a refi as well.
@@tcrawford8430you can also rent out the first unit in your example. You don’t have to refinance. If you rent it out you can still use the REST of your entitlement for another property. Multiple VA loans at once is 100% possible and not any type of scam or illegal. After a year of occupancy you have two options, not just a refinance.
I sold all my properties and my VA loan is paid off. I am in Texas and interested in possibly buying 4-plex if the number works out. I will then live in one of the units and rent the three. I am interested in Spring Texas. Thanks!
I currently have a va loan out on a single family home since 2017. Since then my home has appreciate in value. I keep hearing that I can on fact have 2 va loans out at the same time in order to purchase a duplex and live in in. I intend to live in the newly acquired duplex and rent out my current single family home... is this possible. I live in Florida, any suggestions? Thanks!
What is the self sufficiency test?
I just email your office with this very specific question: 32 years in the military, I never used my VA since Vietnam. After serving in 3 separate forces, disability and SSI, I need this help.
Do you have to live in the duplex if you buy it ; can you rent both units out..?
.
If you buy the Duplex as an investment, they could both be leased.
I know you guys are located in Long Beach, CA. I also live in Southern California, but most multifamily on Southern California is extremely expensive, old, mostly bad neighborhoods, and too many tenants issues. Not really a good location to buy. Definitely recommend in other states.
Thank you for taking the time to comment. Your concerns are very common and we frequently hear this from my clients. We don't see the potential in investing and out of state properties. Southern California continues to double value every 10 to 12 years that's where wealth is being made.
@@SageRealEstateding, ding, ding. Level 1 investors have to bite the bullet up front and level up from there. Aesthetics don’t equal equity 🤌🏾 I love this content btw.
All of this sounds really great. So Glad to hear you talking about this and getting all this information. So I am in Albany New York and is interestedin a multi unit. Who can I contact to start the VA process. Thank you.
Please visit our website link www.sageregroup.com/youtube
Gracias por toda la Info. proporcionada!!!
Pues claro, de nada gracias por mirar !
How to contact the one in TX pls
I am a veteran and I have a COE, How can I start Purchasing properties?
Hello, what state are you in?
She says um too much
Practice on your speech more because it’s very distracting to your audienceeeeeeee
We are doing our best. We are real estate professionals however, being on camera is not something that we were taught to do. But I get it. I've done my fair share of Toastmasters and we do need to eliminate the use of filler words. Thank you for watching we promised to get better.
Phoebe, it's challenging to listen to you. And it does NOT matter which branch of military you served in. ALL branches qualify 🫠
I apologize we are trying our very best. We are real estate professionals and being on camera wasn't a skill that we worked on. But we promised to get better thank you for the feedback.
@SageRealEstate Hey, no worries. More importantly, I wanted to clear the air about Phoebe's incorrect statements about it depending on which branch of the military you're in... thanks!