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Rene Vargas
  • Investor
  • San Antonio, TX
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Advice on path to take

Rene Vargas
  • Investor
  • San Antonio, TX
Posted Nov 17 2016, 16:16
Hi everyone this is my first question ever . Im a full time employee part time investor but I'm in a dilemma I have 2 rental properties with less than 35k owe in each thru mortgage lender . In a few weeks I'm goin to make 2moves .I will be borrowing from 401k to raise my capital for investing. Posible 24k Second move refi my sec rental property to cash out 20k equity . Now I have several choices that I can do with that money In which I can't make my mind on 1 - should I pay off one rental property which I owe 17k use rest of money pay off credit cards and buy another rental property owner financed due to debt to ratio is high unable to go thru bank, OR 2- keep both funds from 401k and funds from refi cash out and flip a house within reasonable budget with 10-20percent down conventional loan . My main goal is to stop being and employee and become full time investor within 4 yrs and I don't want to mess up ! Well hopefully I didn't confuse anyone and please help me out what would u guys recommend thanks !!