Purchasing my 2nd Property

[John Philip Eugenio]

Hi everyone!

I am in the Military and I will back in San Diego in few months. I have been doing research how to fund my 2nd property.

I already used my VA Loan and I still have $310K remaining with San Diego Limits.

I recently submitted a request for HELOC for $100K.

I also have cash approximately $60K that I can probably utilized.

However, I can't decide.

Should I use the remaining VA Loan and buy a townhouse in Chula Vista? Townhouse cost about $500K - $650K which it is going to require for me to put downpayment. Since it is VA Loan, it has to be my residential home and I only have about 1 year left in San Diego. Rent it out after I leave. NOTE, I still do not know where I am going.

Or

Should I just buy out-of-state such as Las Vegas or Jacksonville, FL by using HELOC and cash?

Looking for any advice. Thanks in advance.

[Joshua McMillion]

@John Philip Eugenio

An excellent starting point, and we share a similar goal. I would take it a little deeper and determine your vision for the future. A great book to get you thinking more long-term with strategic objectives in Vivid Vision. 

Sincerely,

Josh