Buying a Rental Property for Only $80 with This Loan

Buying a Rental Property for Only $80 with This Loan

Episode #329

Buying a rental property for just eighty bucks? There’s no way that’s possible. How can you close on a rental for the same amount of money it takes to fill up a tank of gas? Surprisingly, one type of mortgage lets you come to the closing table with no money down, no PMI (private mortgage insurance), and, if you play your cards right, (almost) no closing costs. Clint Campbell even used it on his recent house hack.

Thanks to serving in the military, Clint had his college paid for by Uncle Sam. When the opportunity to be deployed came up, Clint took it, knowing he’d make more while spending less. He was able to save up a nice chunk of change and used it to buy a rushed first rental property. But then, Clint realized he could pay almost NOTHING for a home he would live in, so he looked around for just that, and the eighty-dollar house hack came to be!

In today’s episode, you’ll learn all about the VA loan Clint used to pay just eighty dollars for his first house hack, the limitations to this loan that service members MUST know about, and how to turn your girlfriend into a handyman and tenant combo who still loves you.

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Join BiggerPockets for FREE 👇
https://www.biggerpockets.com/signup?utm_source=owned_media
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Join the Real Estate Rookie Facebook Group:
https://www.facebook.com/groups/realestaterookie
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Find an Investor-Friendly Agent in Your Area:
http://biggerpockets.com/agentmatch
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Find Investor-Friendly Lenders:
http://biggerpockets.com/findlenders
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Grab Ashley and Tony’s New Book on Partnerships:
https://store.biggerpockets.com/products/real-estate-partnerships?_pos=1&_sid=1dd453d22&_ss=r
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VA Loans: How Eligibility & Funding Works in 2023:
https://www.biggerpockets.com/blog/va-home-loan?utm_source=youtube&utm_medium=description&utm_campaign=none
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How to Invest in Real Estate with No Money Down:
https://www.biggerpockets.com/blog/2014-10-18-invest-real-estate-no-money-down?utm_source=youtube&utm_medium=description&utm_campaign=none
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Tools to Build Credit:
AnnualCreditReport.com: https://www.annualcreditreport.com/index.action
AUNT KARA: @aunt.kara or https://www.instagram.com/aunt.kara/
Credit Karma: https://www.creditkarma.com/
ThePointsGuy.com: https://thepointsguy.com/
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Connect with Clint:
TikTok: @clintcampbell40 or https://www.tiktok.com/@clintcampbell40
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Connect with Ashley and Tony on BiggerPockets:
Ashley: https://www.biggerpockets.com/users/echopm?utm_source=youtube&utm_medium=description&utm_campaign=none
Tony: https://www.biggerpockets.com/users/tonyr75?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Ashley and Tony on Instagram:
Ashley: @wealthfromrentals or https://www.instagram.com/wealthfromrentals/
Tony: @tonyjrobinson or https://www.instagram.com/tonyjrobinson/

Show notes at: https://www.biggerpockets.com/blog/rookie-329?utm_source=youtube&utm_medium=description&utm_campaign=none

00:00 Intro

02:17 Serving Abroad and Saving Money

05:06 Building Credit from ZERO

16:50 A Rushed First Rental

27:37 Buying a House Hack for $80

39:28 Girlfriend, Tenant, Handywoman

41:25 VA Loan Limitations

43:30 Clint’s Current Portfolio

47:37 Rookie Request Line

50:17 Rookie Rockstar

50:57 Connect with Clint!


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