First purchase may have left me dry

[Oscar S. Holguin]

Hello all! I have recently closed on my first deal a va foreclosure that was appraised last year at 129k PP was 96k and the new appraisal came in at 106k (The house is needing tile,water heater, repair to a parapet stucco wall and a few things) currently I have fixed water heater and am lining the floors with LVP. I struggled to close on the deal but was able to close with 3% down conventional loan with tsahc assistance. My question is what can be my next step? After talking to the bank I cannot cash out refinance untill my loan amount is around 66k. Did I make a wrong move? The house is my primary residence but could rent out for $1100+ easily once fixed. My main question is how do I get into another property from here? Am I stuck untill I pay down the mortgage or find a seller-financing option on another home with a low down payment?

[Christopher Phillips]

Oscar S. Holguin

What are your plans for rehab funds?