Posted by dewCO on December 10, 2000 at 18:14:45:
Bill is correct, VA is for owner occupants only. Need to figure out a creative way, or just go get them financing a traditional way, if the builder is ready to be MOTIVATED and deal with you. Why haven’t they sold, I think you need to know that before you figure what their value is and decide to purchase.
just an idea - Posted by chris
Posted by chris on December 10, 2000 at 12:30:27:
There are 4 townhouses that are beside me that belongs to the builder. My goal is to purchase them with the least amount of money out of my pocket. As a veteran can I use my balance of my va loan to acquire these properties and rent them out to section 8 to get premium rent. If that would be possible I would rent my out mine as well to get maximum gain.
currently my mortgage is 577 and others are renting to section 8 for 800. 5 townhouses being rented at 800 is 1115 a month after the mortgage is paid!!! I would also try to keep realtors out of this deal and work a package deal for the other four… all auggestion would be appreciated