Has anyone bought an apartment complex or larger multi-family (>3) building using the VA loan? I've started looking at real estate more seriously recently and am wondering if folks have tips or lessons learned they could share.

like
Posting as :
works at
You are currently posting as works at

I haven't done it, but I believe it can only be used for a primary residence, so you may have to plan on living there as well.

like

Must be primary residence and even still the loan is capped. They put a lot of restrictions on them due to people trying to make property empires. Wife works for a mortgage lender so I get the updates often. Also happy to get you to a loan officer in your area who can discuss more.

Thank you! I appreciate that. I'm just exploring right now but will keep that in mind and reach back out when we get closer.

Must be a primary residence for a number of months, usually 12. Then you can make it a rental.

“There's no hard and fast rule from the VA, but most VA lenders require you to sign mortgage documents indicating you plan to live in the home as your primary residence for at least 12 months.

However, these documents also offer flexibility, allowing you to cease occupancy or sell the home before the 12-month period if you have a valid reason that your lender approves.”

https://www.veteransunited.com/valoans/occupancy-requirements-for-va-loans/

Hi y'all the primary residence piece is okay. My wife and I are looking at moving due to work but likely just for a few years so I'm thinking the right thing to do would be to buy something multi-family during the period.

In my area multi family are in high demand and you will be competing with high cash offers. Most sellers look down on the VA due to low appraisals in my area and the burden of the extra inspections.

Add that piece to the fact that getting a VA loan for multi family is tough, I would suggest another loan option. I do have a friend that used it to buy a duplex, but that was a long time ago and he had to sign all sorts of things

Related Posts

I am financially secure (husband now has a high earning job) and looking at what options for "moon shots" at chances of real wealth generation with my years in Big 4 (10+). Month to month cash flow isn't a concern anymore so i can focus on opportunities for bigger pay days. Ideas from the hive mind?

like

hi Sharks

Can anyone help me what will by my inhand salary for CTC 31.5 Lakh((No variable) fixed ctc and i have home loan and life insurance of more then 1.5 Lakh
Employwr contribution to PF is 9450 monthly and i think same goes from my contribution as well

like

I’m maxing out my 401K, traditional IRA and HSA this year and paying for some house improvements. I have about $750K total investments and very close to $2M net worth, but realize that I am behind on investments if I want to do FIRE. I was focused on paying off huge chunks of my mortgage and managed to whittle it down to $75K left. Would you suggest I go ahead and pay that off this year? Or pause and do a mega back door roth instead? I’m mid 40s. Thanks!

like

What are the realistic alternatives to coinbase? Fees seem outrageous.

like

Client had a privately held REIT in IRA. Trying to transfer to IRA I manage to diversify. I need some help. Continued...

like

Which demat accounts can a Citi employee hold ?
Is only Kotak securities allowed ? Are there any exceptions ?

like

Have $20k cash sitting around. I haven’t invested outside my Roth IRA, 401k, & HSA, but figured now may be a good time. I have a brokerage account with Schwab - should I wait to put money in? Cont.

like

Do I need to sell cash sitting in my fidelity core position to be able to use that?

like

Does anyone use the commuter card (use pretax money to pay for T passes, etc)?

like

Should I take an L on Paysafe? Feel like none of these SPAC stocks are going to have upward movement anytime soon

like

Specific question for fish based in the UK.
Could you let me know what your employer contributions to your company pension scheme are?
For instance, they contribute half of your contribution up to a maximum of 3%. Before any tax incentives etc.
Interested to see the variances, it seems to be substantial from what I've seen. If it changes with level/seniority, please make that clear as well so we can differentiate between companywide averages and individual circumstances / positioning.

like

I contribute 10% of my paycheck to my employee share purchase plan. Is this smart to do given the tax repercussions behind it? Is it smarter to invest less in that and more in my Roth or 401k?

like

hi,
i got a offer letter from hsbc before baground verification but i taken education loan for my MBA this year 2022 but my tenure to pay is not occurred. i had credit score of 728 . is there any chance of getting revoke of offer letter

like

What are the best ways of tax exemption

like

Making partner at my firm! $250K budget to get a celebratory car: recommendations and why?

I currently drive a GLC 63s which I love. This would become my daily driver I suppose; but I don’t want another benzo.

like

TC New grad Software Engineer
Base: $110k
Sign-On: $35k
RSU: $120k/3years
Relocation: $20k

Starting fresh with virtually $0 savings and $0 worth of financial literacy, whats the best course of action? any advice is greatly appreciated!

like

Finally I am a tax payer of India.... After 3.2 years in TCS, will pay tax on 8k😂😜😜😜

like

How do you invest and save for your children? I’m thinking about setting them up with custodial brokerage accounts but don’t want them to have a heyday at 18. Did you create irrevocable trusts or?? They are too young for earned income and I don’t own a business so no IRA investing opportunities here.

like

🔮 Looking for some buys with my new found gains in ETH 🔮

like

What credit card do you use?

like

More Posts

I have been selected by Cargill as an ML engineer, but they are not releasing the offer letter. It has been over a month now after all the negotiations. Can someone tell me what is the typical amount of time they take for releasing it?

Freshly groomed and feeling fine !

Post Photo
likeuplifting

Hi I work at Accenture Strategy & Consulting in Management Consulting - Capital Market Practice. I have 5.5 years of experience in Capital Market Consulting. Have worked with Investment Banks, CSDs, Clearing Houses, Exchanges. Have worked on RFI, RFP, PM, Requirements Gathering, BRDs , FSDs. Waterfall to Agile implementation etc.
I am MBA- Finance and did Computer Engineering in UG.
I am looking for a change and looking for opportunity in Strategy or Management Consulting. Kindly refer me.

like

Is it mandatory to WFO for 3 days in TCS? And is it necessary to work from base location? If i work from open ODCs , can i just work from any tcs office in any state?

likehelpful

Anyone have a corporate rate code for holiday inn?

like

What's your biggest net new account this tumultuous year?

like

Hello fishes, is it a red flag when I'm the ONLY one on my team who's happy with the management, meaning my boss and my boss's boss? Other than the two bosses, we have 6.

like

Hi all. I just received an offer for $130k and will be eligible for about 29,000 shares of stock options. The vesting schedule is 1 year and then quarterly thereafter.

Can someone explain what this means? I “will be eligible”. So, I have to buy the shares? Should I be asking at what price?

Newbie here. Please help!

like

Hi All,

I have joined UST a Month ago and still waiting for a team alignment. Could some one tell me the alignment process.

How much of variable pay is paid out in UST ?? In my package i have 4lac of variable component. UST Global IBM ??

Island is open: L4L4L 😮

Bottom half of my island is a hot mess but the upper half is inspired by the attractions at the Golden gate park!

Some extra recipes in front of Nook’s cranny

I will be AFK

like

Anyone here manage to have their wedding in this area for less than 10-15k? If so, where?

like

What are everyone’s thoughts on Freddie Mac? It’s been a really tough year to be in consulting

like

Note taking is not something I was ever particularly good at. Shorthand, symbols, abbreviations, multiple colors - they're all things I use haphazardly, and without consistency.

I think I really could benefit from stepping up my note taking game.

Anyone else spend time intentionally building this skill? Any good resources that helped you becoming a better note taker?

like

Does anyone else feel like their social skills went down during the pandemic? My new anxiety makes retail so hard.

like

Hey Mates,

There are talks of focusing on talent retention & offering competitive pay in meetings by Higher Leadership so
Is there any salary correction actually happening for current employees or some salary equity policy being made?

like

What are your thoughts on pay discrepancies based on family structure? Ex. Two people do the same job but one is paid more or given a larger bonus “because they have kids and you live alone” or “because their family is struggling”. Is that an ethical factor if both employees do the same job at the same pace, quality, etc?

Anyone here make a huge career change in their late 20s or 30s? Thinking of making one and wanted to hear your stories.

likeuplifting
likehelpful

Additional Posts in Veteran Bowl

I pivoted into tech two years ago. I'm making good but not great money.

Anyone else in that same situation constantly consider going into the reserve or national guard?

It's like a weekly thing in my head.

On the one hand: more money and better medical, small pension @ 60, TA, etc.

On the other hand: it's the reserve.

Decisions, decisions.

like

Has anyone done or know anything about the Army Congressional Fellowship Program (ACFP)?

like

Thoughts on Veteran status and the ongoing corporate layoffs?

like

Hey All. Anyone here knows if there’s a minimum employment period before PwC’s military leave policy (differential pay) kicks in? Will be doing National Guard basic training soon, but haven’t been with the company for a year. Thanks in advance.

like

Looking to connect with someone who works in the Atlanta area (remote or in person) for questions regarding SIPR. Additionally, if there are individuals in this area that know of resources to use to find places that are hiring (consulting, tech, startup, etc.) in Atlanta specifically, please drop below. FYSA, I have just over 3 YOE (1 consulting, 2 government) and TS level clearance. Thanks!

like

McKinsey & Company Anyone at McKinsey & Company willing to refer a Marine veteran (OIF, I swear I will not eat all the crayons. "Crayons" are for art is what my wife tells me to tell myself)

5yrs Marines (Sgt, Comm maint tech w infantry Bn)
8yrs in Oil & Gas (engr coordinator, qty surveying and proj ctrl)
CM undergrad
MBA (professional program, graduated May 2022)

I'm looking for a role in McK serving O&G, industrial, capital projects clients. Open to generalist roles as well. Can review for vetting.

likefunny

My SSBI experience expires next year May, and my investigation is is in adjudication process. What happened my result don’t come back before my investigation expires?

like

I want to buy a new home and then sell my current home after we are moved out. Current home is a VA loan, is there any way to buy the second house on a VA loan?

like

Do I go for a promotion even though I’m being told it isn’t a home run? Is there a backlash/ detriment to declaring for one and not receiving? Would I be wasting folk’s time? This is my first run at a promotion outside the Army.

like

Has anyone heard of The Next Step program at Dartmouth’s Tuck school of business? I’ve been Encouraged to apply

like

How long after transitioning did you start to feel comfortable in your role? Feeling major imposter syndrome in my first 3 months

like

PwC, are you butthurt because you weren't a paratrooper?

like

Hello, everyone! I'm new to the bowl, so please forgive me if I'm approaching this wrong. Is anyone currently hiring analytical data roles or willing to give a referral? I have four years of experience as a Maintenance Management Analyst in the Marine Corps, and I'll soon have a Master of Science in Information Technology degree this May. I would be more than happy to send you my resume!

likesmart

Perspective. I’m retiring from the service and I’ve positioned myself decently to be competitive. I have a graduate degree pursuing a doctorate, LSSBB, ScrumMaster, SPHR, and PMI-ACP. I’ve been offered two positions that are great and on the human capital team. For someone in this situation where should I be looking as commensurate with my certifications and experience?

like

I am a traditional reservist so I never really used military benefits before, but could use advice here.

I am currently renting and my lease is not up until October 2021, however I found a good deal on a home and scheduled to close in June 2021.

My landlord will not work with me to end the lease early, so it looks like I will have to double up on rent and mortgage through the summer.

If I went on active duty orders, can I use those orders to break my lease early without penalty?

like

Tricare Q:

Vets using Tricare with a family. I’m out and can use Tricare with the VA, but my wife and I each use our company offerings for our family; which obviously come at cost. Is it worth it to switch to Tricare? Has anyone done this and can share details? Positives/negatives?

like

Hey all, transitioned from the military last spring and got a UX product manager position at a bank.

Pay is good, but missing the mission aspect of work. Have interview offers from Microsoft and Amazon for cleared PM work, but most of them are less product manager work and more adjacent program work.

This might just be grass is greener thinking, but would love to hear if you have made the transition if you enjoy cleared PM work or do you wish you stayed in the non-cleared space?

like

Fam, planning to sign up for AASLT as my AT this summer. Ngl, not in best shape currently. How hard is it? How much prep would you recommend?

like

What are the best consulting firms for someone with a TS/SCI with FSP? Non staffing roles. I’d rather do strategy, transformation, tech integration, etc...

likehelpful

SO said he couldn’t receive letters during Ranger School, but finding info online that I can send. Any insight? Maybe he doesn’t want the distraction?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal