Watch this BEFORE buying a Multi-Unit with your VA Loan

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Watch this BEFORE buying a Multi-Unit with your VA Loan

Рет қаралды 4,404

Күн бұрын

Before you buy your first investment property with the VA Loan, it is critical to make a list of what you DO and DO NOT want in your property.
The more you can define your criteria the better.
Make sure your deal is going to make you money! Use www.rentometer.com to find out if the deal is a good investment or not.
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Пікірлер: 31

@KevinP32270 16 күн бұрын

THANKS!

@coachjd 7 ай бұрын

Ez subscribe, there I was thinking we about to max this baby out with a quadplex. What you say makes totals sense. Get comfortable with the process of being a landlord, then scale up. Pure gold my dude thank you.

@jasonburds 7 ай бұрын

Thank you! I don't want to discourage you from maxing it out with a 4 unit, it could be a great call, it just wasn't right for us.

@jasonburds 7 ай бұрын

Let me know if I can help in any way.

@christopherhill3067 Жыл бұрын

I’m a truck driver never home. Was thinking of buying a 4plex in ft Myers and air B&B my primary rent the other 3

@jasonburds Жыл бұрын

Dude, that could be an awesome opportunity!

@benburds 2 жыл бұрын

Good metric: the 1% rule. Nice tip thank you

@jasonburds 2 жыл бұрын

Thanks Ben! ;)

@TheYourmama56 2 жыл бұрын

This channel is a blessing I've been out for 2 months and I've learned alot from the gi bill video cause the tap course were only available online at the time and didn't get to learn much thank you. Question : can you make a video on grants that I should be applying for?

@jasonburds 2 жыл бұрын

Thank you! I'm really excited to hear that the videos have been helpful for you. That's a good video recommendation. I'll add it to the list. For now, check out my video on FAFSA kzfaq.info/get/bejne/sJ53Y5Cq0Nqqn6M.html

@TheYourmama56 2 жыл бұрын

@@jasonburds thank you so much I just filed for disability claim today been very helpful

@jasonburds 2 жыл бұрын

@@TheYourmama56 right on. Good luck!

@treybucio4758 2 жыл бұрын

Explain how u got a fixer upper with VA since va had strict criteria. Was it just lip stick?

@jasonburds 2 жыл бұрын

It was still livable. Everything was functional, just needed lots of updating. The VA did require the seller to install some hand rails and other small things before closing but nothing that caused issues.

@treybucio4758 2 жыл бұрын

@@jasonburds oh okay gotcha

@Michael-vk1fj Жыл бұрын

How do you get approved for VA loan when it comes to income? I've read that you need to put down 6 months worth of rent to cover costs if you don't have at least 1 year of property management experience.

@jasonburds Жыл бұрын

That's a bunch of hogwash... We were never asked to prove property management experience or show we had "6 months of rent". That doesn't even make sense. Different lenders will have different financial requirements. It will come down to your income and existing debt. You don't want you debt to income ratio to be 41% or less. If one lender turns you down, try another.

@Michael-vk1fj Жыл бұрын

@@jasonburds That's great to hear, thanks so much!! Can you clarify debt to income ratio, I thought having a lower DTI % is better??

@jasonburds Жыл бұрын

@@Michael-vk1fj you're correct. I didn't realize I had the word "don't" in there. It's basically signaling how much of your income goes to paying off your debt. You want that ratio to be as low as possible.

@Michael-vk1fj Жыл бұрын

@@jasonburds thanks for the clarification!! 🙏

@moskazime2 Жыл бұрын

Whatsup my brother, I’m interested in joining the Coast guard and was hoping to retire my family from having to pay rent and stay together and wanted to use and leverage my VA loan to build a multi unit property investment business where I can mortgage 4 unit homes. To help my family and friends get into awesome apartments and also charge as least as possible so they can have rent control. Is that possible? And can you help me?

@jasonburds Жыл бұрын

Moe, great aspirations. The best way to start is by studying real estate. Keep watching KZfaq, listen to podcasts and read books. You gotta spend time understanding the costs associated with owning real estate, how financing options work and studying markets you want to get into. It'll take time.

@IMAN-hc3fz 2 жыл бұрын

Hello, I'm new to your channel. I'm a veteran and I'm looking at multifamily units to move into with the goal of becoming a full on investor. Can you please let me know more about being financially set for being approved. Do I have to have a certain amount of money saved (per the banks rules) to get approved along with all the other general qualifications. The issue is that I have less than $10K saved and want to do $0 down.

@jasonburds Жыл бұрын

David Pere from military to millionaire can shine more light on VA lending rules.

@IMAN-hc3fz Жыл бұрын

@@jasonburds thank you