buy more or pay down?

[Brandon Boyd]

Hello everyone,

So, I'm new to the site and this is my first post! My wife and I are building a house and planning on moving in when its finished in about 7-8 months. We aren't selling our current house and are going to rent it out. Because we are moving into and not buying the rental house as the second mortgage, I am able to do a VA loan on both of these which is awesome. Anyways, I am curious as to whether it would be wiser to either be aggressive and pay off the rental property sooner, which would be about 10 yrs, or look into acquiring another income property sooner than that. I know that if/when I do that second rental property loan I will have to put 20% down. I'm not sure if it would be smart to use something like an equity line of credit to get the second property or if I should just wait and save up cash. Does anyone have any advice or suggestions as to whether to pay down/buy more and also any other possible recommendations for creative financing methods.

Thanks,

Brandon