329: Buying a Rental Property for $80 with This Loan w/Clint Campbell

Oct 11, 2023

55:01

forum

Ask episode

view_agenda

Chapters

auto_awesome

Transcript

info_circle

Episode notes

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.

In This Episode We Cover:

The VA loan explained and using it to buy a house for NO money down

Building your credit from scratch and quick tips to boost your credit score

Why you MUST get pre-approved before buying a property (ALWAYS do this)

Seller credits and using them to lower your closing costs

Partnering with a spouse or romantic partner on your next property

Passive real estate investing and how to make money in real estate WITHOUT doing the work

And So Much More!

Links from the Show

Find an Agent

Find a Lender

Ashley's BiggerPockets Profile