Coach G explains how non-veteran investors can buy VA-foreclosed properties with 30-year fixed loans under 4% down 5%. He bought his first one in 1996; investor Gordon owns about 30. The VA center in Pasadena, run by Bank of America, can help you get started.
Questions this video answers
1996.
Fixed 30-year financing, under 4% interest rate, 5% down.
About 30.
The VA center in Pasadena, controlled by Bank of America.
realestateandnoteinvesting.com.
Chapters
A VA foreclosure. Let's talk about that real quick. In 96 I bought my first VA foreclosure and here's the situation. And you guys, once again, this is kind of a low level beginner type of program. But most of you might not have W2 jobs which they really like and you are qualifying for a loan. But there is a government program out there which has the ability to lend an investor below 4% on a property that they've taken back fixed 30 year financing, 5% down. And guess how many you can get as an investor unlimited. Gordon owns 30 of them and he's acquired them over the years and it's been in cycles. Sometimes I bought a lot, sometimes I didn't. At certain times they got overbid. People would bid, bid, bid. I said I was done. Lately there's hardly any bidders. So the VA foreclosure. If someone was to say, you know what? How can I buy property that cash flows now with a fixed 30 year interest rate on a good solid property, a dingbat, all the way up to a nice property, whatever it might be, you know it's out there and you say, well I couldn't qualify. You have to qualify. You have to go to the VA center in Pasadena. The bank of America controls it. And by the way, this is on my website if you ever want to take a look at. I wrote an article on it where you can buy $100,000 house with 5% down, fix below 4% financing to an investor all you want. You don't have to be a va, a veteran, anything like that. So I just look at that and say it's one of the most overlooked programs out there. And I mean I'm doing it. It's a good one. So any questions on the VA program? There's a thing right there that says realestateandnoteinvesting.com that's my website, I wrote an article on it. I'm blogging on these things. So everything you need to know is right there. But it's something to look at. And if you are a player, like people in this room, you could partner with a civilian where they go get the loan. 50, 50, whatever. Okay, two, can you sell those things and like have someone wrap that wrap around, they're assumable. How about that? I mean, tell me of another drug rent. That's excellent. I don't think we have a program in America for an investor where you can get a loan like that. There's no financing out there. Government financing, 5% down below 4%. Interest rate fixed for 30 years. I get excited about this, so. Okay. VA foreclosures. My first secret. Whatever. It's a secret. My card's on the table back there, and it's real estate and noteinvesting.com.
