A recorded conversation led by Trystan Trenberth (May 19, 2024) with friends Brennan and Cedric about assuming VA loans. Trystan frames the call to compare true VA loan assumptions (qualifying for the loan) versus informal "taking over payments," and to surface opportunities, differences between deals encountered, and lessons learned for others in creative financing.
Good morning. We have Brennan and Cedric, two great friends of mine. We've both done deals together and we're looking to do more deals and learn and educate others from what we learn across the way. So Cedric came to me last week. He's got a property in Arizona that he wants to buy and assume a VA loan. He's got a very preferable interest rate here. And I put him in touch with my friend Scott Evans and they've done some other research on the assumption process. Brennan then came to me a couple of days ago also looking to assume a VA loan. Most of us in the creative finance world are looking to not assume but just take over payments. But you know, when sellers don't have that motivation or they have a different need and we can qualify for the debt then Absolutely. It's the best way to get the lowest quality debt and the lowest risk for everybody involved. So I put this call together just to connect Cedric and Brennan just so we can learn a little bit about what each of them learned along the way, what they've come across as far as their opportunities and to share the knowledge they've had and share that with the world as a result. So, Cedric, why don't you share a little bit about what we've talked about the last couple of weeks, the opportunities you came across, the first one which wasn't an assumption and then the one that you are looking to assume and the difference in the opportunities and why, you know, the, the assumptions.
