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Updated over 5 years ago, 06/29/2019

User Stats

4
Posts
0
Votes
John McCardell
  • New to Real Estate
  • Philadelphia, PA
0
Votes |
4
Posts

First property advice. Equity in home as source

John McCardell
  • New to Real Estate
  • Philadelphia, PA
Posted

Hello,

My wife and I are 31 and just had our first child. Would like to secure our future with some investment properties.

I have zero debt

25,000 in cash

I bought our home and owe 297,000 and it is worth 415,000

my credit score is 750+

We bought in a gentrifying area of Philadelphia and hit a home run by being early. Want to turn this into a grand slam. Would like to purchase a rental single family home for about 150K.

What is my best way to secure financing? Thank you.