All Forum Posts by: Andrew Smith

@Bradley Scruggs I already have a VA loan in Hawaii I will be selling it later this year but I'm trying to get things started soon. I will be using the VA loan for my second property

So I have a retirement account that I can take loans out at 2% and the interest is paid to my account I was wondering if it is smart to do so and if I would have to let that sit for awhile since it's my money

Thanks for the info guys hope everyone had a good Thanksgiving 

I have just started the process of trying to buy my first rental property. I have 22k in savings and was trying to find a house in the 90k-100k price range. The lender I talked to said I would need 34k for down payment, closing cost and reserves. I assume they are giving a conservative estimate for closing cost. Does this seem right to anybody I'm going to do my research on closing cost but figured I would get some first hand advice also. Does anybody have advice on the best way to raise some money fast for down payment/closing. I could for sure save up for it but that would take a couple months and I am trying to get the ball rolling on this because I am in the military and soon will be transferring to a submarine which means no more free time. Any advice would be appreciated.

Thanks

Like the title says I'm from Texas and living in Hawaii. Its the military that brought me here. Three years ago I bought a house in Hawaii and have been living in it ever since. I'm looking to invest in Texas I'm leaning more towards rental properties than flipping but I'm still doing my research on whats best for me and my family.