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Updated 23 days ago, 11/07/2024

User Stats

32
Posts
8
Votes
Jose Quinones
Pro Member
  • Investor
8
Votes |
32
Posts

Analysis Paralysis Help: Househacking with my VA or a line of credit?

Jose Quinones
Pro Member
  • Investor
Posted

In the market to house hack. Looking for suggestions. Torn between using my VA loan or use my investment property below to help fund my deal.

Been losing deals left and right due to the owner occupied rule with VA.

I have about 30k in savings, 30k retirement fund, no debt, low expenses (living with parents until find a place)

I Own (under my name) a 5 unit mixed use building (4 residential, 1 commercial) fully occupied. Loan balance is 280k, value is over 500k, cash flows about $1300…went to apply for a business line of credit thru my operating LLC and was denied due to losses in last years schedule E…the idea was that I use the LOC to help pay for a down payment. They did offer a cash out refi though.

I know I have options. ****ing analysis paralysis here 😪

  • Jose Quinones
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