investment opportunity section 8

[Ryan Sims]

Good Day to All,

I am in need of some advice.

I am attempting to take the plunge into investing in real estate. For the last 1.5 years I've only researched and have become familiar with the different processes and lingo of the real estate world, terms conditions, etc. I like it thus far and am eager to retire and go full time at it.

Here is what I am attempting to do.

I own a house with about $30 to $35k in equity. I am a US Marine, 16yrs strong whom makes good money and has no debt.

I want to buy 2 properties. Section 8. I've read the pros and cons.

Both are selling for $39,900.

I've done the comparison and analytics on them, and I have determined that they will cashflow. Coupled with the security of the Govmt funded sec 8.

I do not have 20% of the sale price currently to be approved for the loans. I have 10% $6500, I could wait and save the money, However I dont think the opportunity will still be available on these properties.

Here is what I am thinking of doing.

Would this be a good strategy/idea?

Do a cash out refi on my current home, which should result in a lower interst rate as well as free up the down payment investment money from the equity.

I am not familiar much with hard money lenders. However It sounds like they work better with house flipping vice long term investing.

Thanks to all. For any advice.