Profile picture for DavidClark70

Buying a home we'll on active duty

I want to buy a house back home and then rent it out we'll I am serving active duty in the marine corps and suggestions on what i should do I want to use the va loan I am currently not married so I don't get bah also I was looking at maybe a foreclosed home any ideas what I should be looking for
  • February 23 - Town of Janesville
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Answers (5)

By a house you can afford at your present duty station.  Have a skilled Property management company manage it.   Save your VA Elegibility for when you achieve your last destination.  Hang on to the rental no matter where your duty station goes....  Also, no jobs out here so keep your military career!  Stay in for 30 and retire at E-8 or E9   THEN get a job on the outside.   There might be jobs by then
  • February 23
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Profile picture for wetdawgs
As you posted in "investing" category, are you suggesting that you'd like to buy a property to rent out?

If that is the case, as a VA loan can only be used for buying your primary residence,  you need to review your situation with a VA qualified loan officer.    In fact, that is a good idea even when buying a primary residence!


  • February 23
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Hello David

I would suggest contacting a Realtor back home to get a search underway.  He or she will ask you pertinent questions as to the purpose and other features you might be looking for. He or she will send you a property cart for you to review whats on the market and be able to eliminate what you don't like. They should share their input as far as viability as to the rental market.  

A good agent should be able to cover all bases with you whether you are afar or present to view homes. When I am working with clients that are in another country, I take my ipad and tour the home with them via Skype, Facetime or other program.  In addition, they should have apps such as Docusign to send documents via internet. In addition, lenders can do mail-aways, if not able to be present for closing. 

Do have a financial situation with a lender squared away.  So when you advise your agent to present an offer that part is included with the documents. 
  • February 23
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Hi David,

A VA loan can only be used for your primary residence, not investment properties. If you purchase the home, live in it, and then have to move and convert it to an investment property, then that is a different story. Before moving forward, you should speak with a tax professional to discuss the tax ramifications of having an investment property as well as a mortgage professional to determine the appropriate loan product for this type of purchase.
  • February 23
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Profile picture for ShaylaTwit
Narrow to the area of most interest first and then find an agent who would be a good fit for you.  Based on your answers to whatever standard questions they may have, he/she will start emailing you a list of homes that may work for you.  A loan pre approval letter would be required to present any offer as well so you'll need to reach out to a local lender in order to start that process in tandem.  

A lot can be done virtually.  So you can communicate a lot with your agent and lender while you're overseas.  Then it's a matter of deciding to fly back and view a handful of the best homes and making a decision.  You can also buy "sight unseen" if you're confident with your agent & expertise.  Many closes are done as Mail-Aways so that is an option too.  After closing, your agent can point you in the right direction in terms of leasing agents/companies or websites to use based on frequency of leasing, i.e. seasonal, month-to-month or annual type of tenants.

Hope that helps.  Good luck!  --  Shayla Twit, Sarasota FL Realtor
  • February 23
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