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Updated almost 6 years ago on . Most recent reply
Need advice - or better yet a financial advisor - VA
I am relatively new to investing and I have a couple of options in front of me during the next year. I need to chat with someone who can help me understand the implications of these decisions on my financial health.
I have one rental that I'm basically breaking even on.
I want to purchase a house in Northern Virginia, with my VA, for personal use. This will likely be a house hack down the line, I intend to rent it out in about 3-5 years. Maybe sooner.
I've been speaking with a lender who can offer up to 300k personal loan to get started, 7% APR with a 5-7 year term (I wouldn't want the full amount), and also a 250K business credit card.
My day job is in the DC area, and it can be quite busy. So I don't want to take on more than I can handle, and also if my finances become ruined, I also lose my day job.
Advice is much appreciated!!
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Originally posted by @Account Closed:
and also a 250K business credit card.
Holy crap a credit card is not a vehicle for real estate investing. Yes you should find a financial planner.