I'm looking to refinance my VA loan with a conventional loan.

[Christopher Aguilera]

Hi BP Forum, 

I'm a novice when it comes to REI and wondering if you guys can help me with my situation. I'm looking to refinance my VA loan with a conventional loan.

Currently, my home has about 170K in equity and I want to take out my VA loan using a conventional loan. The reason is so i can have my VA loan to purchase my next property. I want to prep my self for Real Estate Investing and wondering if i should refinance for the same amount of money I owe on my property; or take out some of my equity to have on the side and use that money to invest in real estate?

Anyone out there have any input on what would be the best strategy in using my situation? 

Quick recap: 

First: If I refinance I would have my VA loan with a conventional loan. I'll have my VA loan available to purchase a new home with little or no money down.

Second: If I take equity money out I'll have cash available to purchase more properties. 

Thank you guys!!!

-Chris A

Novice REI

[Brian Garlington]

Everyone has different goals. If you live in an area where property appreciates in value it may make sense to refi into a conventional and buy another property with your new va loan and move into that. Keep doing that every 2 or 3 years or as long as your spouse I’ll let you 😉. THEN every 2 or 3 years you can look at taking cash out of a “previous” property to buy properties in a less expensive area, like the Midwest.... use those Midwest properties for cashflow.

Repeat.