Posted by Ron on October 12, 2001 at 18:56:12:
The restrictions are varied by area - in my area there is a limit of six prop’s in any six month period excluding cash purchases which are unlimited. You would need to check with your local VA administrator or r/e agent to find what restrictions apply to you.
Great VA news and a question - Posted by Grant
Posted by Grant on October 11, 2001 at 22:29:46:
I have just found out that I can pick up VA repos for 0 down and 6.75% over 30 years on investment properties. I can obtain 4 properties, 5 if I live in one. All that seems to be needed is good credit and I pay closing costs. This leads me to my first question, does anyone know of how to access what VA repos are on the market, preferably via the web?
Question 2. There is a property next to where I live which has obviously been abandoned for one reason or another. The electric meter on the outside of the house has been removed, house and grounds are deteriorating ect. How can I find out the situation? Any help greatly appreciated, thanks.
Re: Great VA news and a question - Posted by Dave
Posted by Dave on October 12, 2001 at 17:43:05:
Grant,
Is VA giving you this 0 down loan? Can you provide more info?
Thx,
Dave
Re: Great VA news and a question - Posted by Dave T
Posted by Dave T on October 12, 2001 at 14:09:36:
I am not aware of any restriction on the number of VA foreclosure properties an investor could purchase, as long the investor is able to qualify for each purchase.
Could you direct me to the source of your information?
Re: Great VA news and a question - Posted by BR
Posted by BR on October 12, 2001 at 09:38:22:
Grant,
All bids on VA foreclosures must be submitted through a realtor. Find one in your area that specializes in VA’s or at least has some experience in submitting bids to minimize your grief, as it can be painful. Those civil service employees must be handled delicately for any level of performance to be expected.
Re: Great VA news and a question - Posted by MikeD
Posted by MikeD on October 12, 2001 at 07:59:23:
Grant - on question #2 - go to the county courthouse (assessor’s office) with the address and ask who the owner of record is. Then look up the property sheet in the assessor’s office (they will help you with this if they are like our county) and the owner’s address should be on the sheet (at least where the tax bill is sent). Tons of info can be found in the courthouse - including who holds a mortgage against the property, if there are any liens, etc (county recorder’s office -they can show you how to access that info. Good luck, and good investing.
Re: Great VA news and a question - Posted by Jim FL
Posted by Jim FL on October 12, 2001 at 24:24:16:
Grant,
Here is the link to VA homes.
http://www.homeloans.va.gov/homes.htm
HTH,
Jim FL