Heroic Investing
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HI 52 – Myths of VA Loans and Using Other People’s Money for Your Down Payment

Episode: 52

Guest: Clayton

iTunes: Stream Episode

The VA loan has a whole lot of myths attached to it. Gary Pinkerton takes a look at the most common ones and examines whether they hold up or not.

Then, Gary talks to a veteran, and friend, Clayton about his experience with VA loans, as well as ways he’s used OPM (other people’s money) to buy his properties.

Key Takeaways:

[2:04] Are you eligible for a VA loan?

[6:14] How much down payment money you’re responsible for after you go over the max amount available through VA loans

Clayton Interview:

[9:18] Clayton’s time in the service, as well as what his experience has been in real estate

[14:40] Gary has had good luck on Home Advisor finding people to do repairs on homes he manages remotely

[19:38] Why Clayton got a “Wealth Maximization Account”

[23:28] Sometimes it helps to view the rising cost of real estate services (like appraisals) as insurance against taking unnecessary risk