Financing plan, which is the right path ?!?
Situation: Ready to start investing but starting from scratch with respect to capital.
2017 Goal: Buy first property
Financing:
1) 90,000 equity in own home or 78,000 after considering my current HELOC. Another HELOC or increase limit (if that exists)
2) Sell home and move into investment home for a minimum of a year to utilize low down payment of conventional loans. (Maybe rent current home in the meantime instead of selling...)
3) Save $800 a month and play the waiting game until I have enough for my first purchase and cash reserves.
4) Any suggestion from YOU?
With financing being the biggest hurdle, I was wondering what more experienced investors would recommend given my situation.
Thanks in advance!