Updated almost 10 years ago on . Most recent reply
Buying a new home with creativity
Hi guys I am new to this and I will have lots of questions and hope someone could help.
Here is my current situation:
My girlfriend and I currently own a 3 family home. We have had this home for a year and did almost $20,000 of renovations. We live in one unit and rent out two units. We are planning on buying a two family home using my VA loan and keep the multifamily for cash flow. We would need to have money in reverse so we can make the purchase and after doing some calculations it would take us several months to save up. We don't want to wait that long . We are hoping to purchase in the next 2-3months.
What would be our best option in our case? Should we get a home equiy line of credit/home equity/cash oit refinance to fund the purchase for the next house?