First investment property
Hello all,
I am active duty military and currently reside in Japan. I currently have a town home I am renting out, which I obtained using my VA loan. I now desire to purchase an investment property to make a rental for additional income.
My question comes to financing. I estimate to spend approximately 50k all together, but I am concerned with how to fund the purchase. I would love to have instant equity and a positive cash flow by purchasing a home at auction. However, with a current mortgage and the desired home being an investment property I don't know where to go for financing.
I have 15k cash, but would rather save the money and finance the property. Any easy to understand financing options would be greatly appreciated.