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Updated about 3 years ago,

User Stats

17
Posts
7
Votes
Peter Wellman
  • Greenville, SC
7
Votes |
17
Posts

Biggest Bang For Your Buck

Peter Wellman
  • Greenville, SC
Posted

Hi Everyone,

I'm looking at buying my first rental property and I could use some advice.

I'm looking to buy a house that i would live in for a year or so and then buy another property and either live in the current on and rent the second out or the other way around. 

Here is a list of my position and options.

1. I recently got out of the military, so I have the VA loan however I have about 25,000 in liquid cash, and 20,000 in mutual funds

2. I just started a new job that brings in about 2000 a month, BAH for going to school 900, and disability 1800 (monthly)

Options

1. Take a loan out on my mutual funds at a 2% interest rate (which has tax loopholes) and use the liquid cash for emergency fund or to rehab the house. 

2. Use the VA loan with no money down and throw money at it while i live in it (interest rates are low right know so idk about this option)

3. Put my liquid cash down as a down payment 

I'm trying to get the most out of what i have to propel my real estate investment. Thank you for any advice you guys have to offer.

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