Anyone help on a couple of basic questions.
What is the condition of these homes generally, or is it not possible to generalise because of location differences?
Can I buy as an investor and more than one property?
2007-06-12 07:43:36 · 3 answers · asked by InvestorPete 1 in Business & Finance ➔ Renting & Real Estate
All the VA foreclosre houses are sold "as is", no warranties, and conditions vary with some well cared for. There is a VA Vendee Financing program with both veterans and non veterans eligible and it doesn't matter if you are an owner/ occupier or an investor. Main attraction is NO DOWN PAYMENT. Longterm 15 to 30 years, and I am told they don't use credit scores as a determining factor for approval.. There is no limit to the number of VA homes you can buy with this funding although you are limited to 5 active loans in a 6 month period. Just need to check it out though because it isn't available on all VA homes.
I am a retired realtor still dabbling in real estate investment and development, and an occasional contributor to the Discussion Board at http://www.foreclosuredatabank.com/board
2007-06-12 13:22:25 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Anyone can purchase VA foreclosures. Of course, you will have to come up with either cash or your own financing, just as you would for any other conventional property purchase.
The conditions of the properties vary widely, and not specifically by geographic locations. Some of them may be immaculate, and others may be entirely trashed.
2007-06-12 07:47:08 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
Ok, what you saw on TV isnt true anymore. Most of the banks have their own realtors and they list these homes. They dont sell them for 10 bucks anymore so you can sell them for 200k. Actually, sometimes they make money on these properties. I am a realtor.
2007-06-12 07:48:05 · answer #3 · answered by Anonymous · 0⤊ 0⤋