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Updated almost 6 years ago,

User Stats

11
Posts
1
Votes
Sean Woods
  • New to Real Estate
  • Ladson, SC
1
Votes |
11
Posts

Next steps? Pay down mortgage for more equity or save separately?

Sean Woods
  • New to Real Estate
  • Ladson, SC
Posted

Hello,

I am very new to investing for my future. I previously thought that buying my house would propel me in the right direction but now I am realizing I would have much rather purchased a multi-family property with my VA loan. I also have a rather small amount of money ($25k) tied up in an TSP.

I was hoping you could help with my next steps. My wife is from Brazil and owns a single unit apartment there as well, but due to her contract, cannot rent it out until the mortgage is paid in full. Should we refinance or HELOC our house here in the US to pay off the apartment so we can rent it out? Or should I use my TSP?

Another issue to consider is I just bought my house in 2018 and it is new construction so there is probably not much equity. 

Any tips or advice is appreciated!! 

-Sean 

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