All Forum Posts by: Colin Joyce

@Mark Gutierrez Hey Markwe are still lending. I can help you out if your still looking for a lender, PM me. I’d be happy to help.

@Gaurav Malhotra Hey Gaurav, I might be able to help you out with your situation. PM me.

@Greg Dickerson thank you I appreciate the advise, Like I said anything helps. Once I refinance I’ll be able to have that money in the bank on hand and I will use that for a down payment on my next property.

I just bought my first 3-Unit multi family home in my hometown. All three units are rented out, and I used a FHA first time home owner for my mortgage. I currently live at home (I'm 23 years old), but I am a engineer on ships who is away from home more then at home. My first 3 Unit I just bought gave me 55k equity after the appraisal and deal. I make good money in my career field as well and have a good amount saved up.

I am looking to buy another 3 unit which I would live in as well, but I am looking for some other opinions on how I should go about it. Should I wait to use a home equity loan for a down payment? Should I leave the equity in my first 3 unit and just use saved money for down payment? Or should I just some of both?

Let me know what you think, it’d be appreciated and any advise helps!