THE VA HOME LOAN IS A PRICELESS BENEFIT, Because It’s A Legitimate Path To Millionaire. It's Financially Irresponsible For A Veteran Or Service Member Not To Use It.

I joined the Army in October 1989 and served in Operation Desert Storm. When I was considering enlisting my mom said it would be a smart move because, “They can help you buy a house.” That’s the first time I became aware of the VA Home Loan.

I took the early out after Desert Storm and started going to college full-time. The GI Bill helped me pay for that. Then, it came time to buy my first place in 1998, a condo on Capitol Hill in Washington, D.C. Because of the VA Home Loan, it was the easiest financial transaction of my life.

I received my qualification letter. Got pre-approved with a VA approved lender. Found a real estate agent. Found a place I liked, which was the most difficult part of the process. It was already VA approved. Entered into a contract. Had it inspected. And, went to closing to sign the paperwork. I rolled all of the buyer costs into the loan increasing it from $119K to $124K. And, I also received seller concessions, so I didn’t have to pay my agent. $0 out of pocket and 4 years of tax write offs later, which totaled more than the $5K I rolled into the loan, I sold the place for $249K in 2002. Cha-Ching! Sweeet.

So, I naturally thought every veteran used their VA Mortgage benefit. However, over the last 20+ years, I”ve randomly surveyed childhood friends, relatives and acquaintances who are veterans and homeowners, dozens of people, and asked them if they used their VA Loan. Surprisingly, more than 99% have said, “No.” 🤯 WHAT?!?! Many veterans have never even purchased a home. They’ve always rented. Again, 🤯 WHAT?!?!

In a nutshell, renting requires the first month’s rent, at minimum, and a security deposit upfront and it provides no tax benefits. You simply pay your landlord’s mortgage for them, building equity in their investment. Buying with a VA Mortgage requires $0 out of pocket, provides significant tax advantages and probably builds equity in the investment. That alone makes it superior to renting and renting the financially irresponsible option between the two. 

So, I’ve been meaning to write this blog post for quite awhile, over two years. Then, a couple days ago, strictly out of curiosity, I attended the From Military-to-Millionaire webinar. Because, it doesn’t hurt to hear what people have to say. What I found out is the VA Home Loan can be a legitimate and rapid path to millionaire 🤯WHAT?!?! And, for many, that makes it priceless. Publish ASAP. 

I HIGHLY recommend that every veteran and service member attend the From Military-to-Millionaire webinar. It provides comprehensive coverage of the VA Home Loan: strengths, weaknesses, common misconceptions, etc. It’s 90 minutes that could start them on the path to financial freedom. And, it’s definitely valuable information that I wish I knew 30 years ago. Here's a sample of it.

Josh Villareal is another veteran VA Loan Hacker to follow with very valuable information. He too used the VA Mortgage to make millions in real estate. 

I also HIGHLY recommend purchasing and reading 100 Questions Every First-Time Home Buyer Should Ask. 

**FYI, I am in no way affiliated with Military-to-Millionaire, Josh Villarreal or a reseller of 100 Questions Every First-Time Home Buyer Should Ask. And, I am not compensated in anyway for their endorsements.

Elon Musk Is Making Average Everday People Millionaires, So He Deserves To Be A Trillionaire

Being born poor, black and raised in small town Central PA in the 70’s and 80’s, the only paths to millionaire I saw were to either be a drug dealer or a professional athlete. However, in ‘89, I joined the Army and left that environment, eventually landing in the DC Metro Area at America Online after getting my Computer Science degree in 1996. 

When I received my offer letter, part of the compensation package was 100 stock options. I specifically remember saying to myself, “Why would I want stock options?” I was ignorant, until I started working there. People in my same entry-level job who were hired the previous year were calling their stock brokers, selling their options as they vested 25% a year, buying luxury cars with cash. And, as America Online exploded in popularity the next few years, signaling the beginning of the Internet revolution, three people on my team became millionaires from their stock options and retired. I’d left after a year, because I didn’t like the job. I hated the job. 

My last semester in college, I worked part time as a programmer at a small software shop. The owner had me do testing for about a week and I said to myself, “I would hate to do this for a living. But, I loved the America Online product and also said to myself, “I would LOVE to work for this company. When I received the offer, I figured I’d give testing at America Online a shot. And, I'm glad I did. I hated the job, but I learned a lot about the industry. No regrets when I left before my stock options vested. Because, now I was aware of a couple more paths to millionaire. Either work for a hot tech company, secretaries become millionaires in Silicon Valley, invest in stocks or do both. 

Many congratulations to the new SpaceX millionaire employees! And, that’s why Elon deserves to be a trillionaire, because he started SpaceX with $100M of his own money 20+ years ago and, in addition to currently employing 22,000 people, he’s making average everyday people millionaires.

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