All Forum Posts by: Scott Granberry

@Jeremy VanDelinder I appreciate it! I certainly will. Hope to see you around.

Hey BP,

I want to tap some people for their experience on what is the best way to get to where I want to be. My first step goal is to get out of my current residence, buy a duplex to house hack, while turning this residence into a rental property (if it makes sense). I live in Round Rock, Texas where my residence has been appreciating 7% per year, right now I have about 35-40k in equity. Outside of this, I don't have much in savings. I am thinking about waiting till I have a little bit more equity to get a HELOC and purchasing a duplex (FHA 3.5% down), is this something I can do using the LOC as a down payment? For those who have experience, If you were in my position, how would you accomplish this? Also, what am I not considering? Thanks in advance!

I occupy a house that we owe 225k on with a USDA loan. According to realtor.com, which I know is not 100% accurate, the property value is 264,500 (near Austin, TX). My end goal is to buy another house in San Antonio. As far as savings goes the only reserves are in the house and in retirement accounts which is minimal at this point in my life. I want to hear from you guys on what is the best way to accomplish this. I also want to see if anyone knows the exact answer on wether I can rent my house out with the USDA loan I currently have on the property, I have occupied for about 2 years now.