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Updated over 9 years ago on . Most recent reply

User Stats

73
Posts
4
Votes
Victor Rios
  • Investor
  • Humble, TX
4
Votes |
73
Posts

Closing on home next week! Need Financial advise !!

Victor Rios
  • Investor
  • Humble, TX
Posted

  So I am closing on a house this week which is my 1st investment home and will need about 6-8 grand of repairs which I do have the money for.  I am well over 20k out of pocket  putting 20% down, closing and so on. My question is should I just pull out another loan for the repairs and have the monthly cash flow of rent pay for it ?  What strategy should I use ? I want to purchase another home late quarter and spending the 6-8 grand out of pocket will affect my down payment money on next purchase as I begin to save.  Also where is the best place for loans ? I would assume credit union , USAA ?  I have 401k but do not really want to pull from there unless I really have to. I have been reading  a lot and just seems to use someone else's money instead of yours.

Help!

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