future planning and lease option aquisition

[Elisa Gary]

Great Day,

I have been scouring the threads here over the last few weeks, along with podcasts and other great info shared here. I am in the middle of trying to make a clear strategy for my next purchase, and have been wanting to get advice from all the great minds here, but I have been trying to find a way to make this simple and not ramble. Our next purchase has two purposes. The first is to provide housing in the area of our choice (awatukee foothills) for our childrens school district (my husband and I have 5 children 14,13,8,4,2). We love the school district and the distance from my natural hair studio that I opened in central phoenix about a year ago. Id like to have a place we can live in until the children are done in school, and then add the property to our rental inventory. I own several properties which were homes we lived in and then later moved and purchased another. We have been able to purchase the current homes with just my income, so there are no mortgages on my husbands credit. I am a US Veteran so I have been able to purchase two properties with VA Home loans. I own an additional property in MD. Because I have been able to do well with self managing ( even the MD property), I don't want to sell the properties, eventhough I could release my va entitlement. I have been playing with the idea of A cashout refinance ( to make them commercial), but I am also weighing the option of buying using a commercial mortgage now and doing a sale to access equity later. I wanted to get advice on how to best strategize on this from this great network. As of now, we are renting a property in the awatukee foothills area. If anyone has a lead on a lease option in this area that would also be great! I'll provide more details as asked, just didn't want to make this too long.

Regards,

Elisa