San Diego realtor Jeremy Mchone discusses how you can take full advantage of your VA loan. Discussing how you can use your VA loan to house hack.

How to House Hacking Using Your VA Loan

A lot of people think that you have to have a lot of cash to get started investing in real estate. But if you have access to a VA home loan, you can actually get started with zero money down. Hi, I'm Jeremy McHone with the Whissel Realty Group and I want to talk to you today about how you can get started investing in real estate using your VA home loan.

A lot of people know that they have access to a VA home loan if they served in the military and then it's zero down. But what a lot of people don't know is that you can use that home loan for not just a condo or a house. You can actually use that for up to four units. That means you can buy a duplex, a triplex, or a fourplex, all with the VA home loan. Now, what's the catch?

The Catch

The only catch is that you have to actually live in the unit when you buy it. But as long as you're willing to live in that unit, you can live in one and rent out the other units. And here's the cool part. With the VA home loan, a lot of times, if there are tenants in place when you buy those units, you can actually count that towards your income to purchase the units.

Over time, as that value of that home or that asset appreciates, you can eventually when you get 20% equity, you can refinance that into a conventional home loan and now you own it with a conventional home loan and you have your VA entitlement freed up to go buy another property. Now, you can go buy another multifamily, another one to four-unit, do it all over again, and just keep the cycle going and build your portfolio that way, or maybe you're tired of living in a duplex and you want to buy your own home.

You can buy that home zero down and you have your tenants paying for your duplex or your triplex, your multifamily that you already bought. So over time, you can buy each property, zero down, continue to refinance once they have enough equity, and just keep the ball rolling. And every time you buy that new property, you're using the income from the previous properties to help you qualify for that new one.

There's also some amazing tax benefits that come to owning investment properties. That's a little bit too much to go into in this video, but if you have questions about how to do that, drop a comment below or send me a DM or give me a call at the phone number below. I'm Jeremy McHone with the Whissel Realty Group.