VA Home Loan Help and Investing

[Christopher Aguilera]

Hello Everyone, 

I'm pretty new to BiggerpPckets.com and wanted to say that this is the source that I was looking for to start investing. I been reading a lot of books, listening to podcast, and absorbing anything I can about real estate investing. I been learining quick a bit with BiggerPockets, Thank!

I'm trying to position myself to invest in rental properties and wanted to start with a multi unit properties that will give me a good return on my investment.

My Current situation is that live in Southern California and own a 2 room 1.5 bath, 1,200 sqft TownHouse that I bought in 2015 for 250K using a VA loan and now worth about 420K. My question is if its a good idea to refinance my house witha conventional loan to free up my VA loan and the VA loan on a my new investment property? or just wait and save up the downpayment to buy my next property? i know with the VA loan i have little to no downpayment.

I been talking to my parents and friends and they think i'm crazy for refinancing and saying that i'm lossing 5 years of loan paydown and starting with a brand new 30 year loan.

What do you guys think? Anyone out there in a similar situation or have insight on what i'm trying to do and accomplish?

Thank you all for your replies and hope to get some connections and friends through this!!!

-Chris A