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Updated about 7 years ago on . Most recent reply

User Stats

265
Posts
59
Votes
Eric DeVito
  • Staten Island, NY
59
Votes |
265
Posts

What would you do in this scenario?

Eric DeVito
  • Staten Island, NY
Posted

Hello all, I have a possibly scenario that I might be facing soon and would like some input which route is the best to take. I currently reside in NYC and will be moving to another state where the RE market is more investor friendly and easier to break into. That being said, I am also a veteran and I have a VA Loan. I will be selling my SFH house here in NYC and I am looking to be making at least a profit of $250,000 on my current home. So VA Loan + $250,000 cash and moving to another state for a new job. Now I am thinking should I buy a 4-plex with the VA Loan and put 0% down or maybe put some type of cash down? Maybe just buy a nice SFH home and pay it off in cash and live comfortable w/o any headaches. Just so many options. I want to make sure I am using my funds wisely. I am new to investing as well and I've never been a landlord. Have been on the forums/biggerpockets for quite a while though.

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