Journey to own Havelock

[Johnathan Dashnaw]

Good evening, 

I am from Havelock N.C,  joined the Corps and have recently retired from the Corps but, live and work in Maryland.  I own an investment home in  Havelock and a primary residence in Maryland.  I just refinanced my home in  Maryland and if all goes well,  will be closing on my Havelock house refi in two weeks. My next steps.... that is the question.  I am thinking to apply for a Heloc using the equity from both houses in order to generate a down payment and cash for closing on the next property.  After the refi's, I owe 326K on my MD house and it appraised at 401k. My NC home, I owe 126k and it appraised at 161k. So, I  have equity in both but I do not want to even try until I close the N.C. house and get a payment or two under my belt to show good standing on the new loans. I do have some crazy outstanding debt from moving and life in the Corps plus,5 kids (same wife) and rebuilding the N.C. house after Hurricane Florence.  No, insurance unfortunately did not cover everything and I can tell you, I have learned some tough lessons in managing both money and contractors. Anyway,  I feel stagnate and want to make sure I am on the right path.  I am hoping that in the next two months or so,  I can start pulling in duplexes and or apartment buildings.  Any thoughts or suggestions? Thanks for listening. 

respectfully, 

Johnathan