All Forum Posts by: Moises Rodriguez

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@Melissa Hartvigsen, and @Theresa Harris, thank you for responding. It's quite overwhelming the different ways to go about doing this. A multi family property would be ideal to generate some cash flow, but would it just be easier for us to purchase a single family home using the VA loan, (0 down) move in for a year, then rent it out? My wife is nervous about doing a Home equity loan because we worked so hard to pay it off in 8 years, and if something happens we can lose the house.

How about a cash out refi? Would that be better to do than a HELOC?

Hi all! My wife and I paid our house off a few months ago, it was on a VA loan. We're interested in getting investment property to start some extra cash flow and increase our assets. The problem is, the multi family houses here cost anywhere between $700K and past the $1 million mark. I've called several banks and they've said to use a VA loan (with $0 down) I need to live in the house for a year. If I don't plan on living there then I'd have to get a conventional loan and put down 20-25%. That's a big chunk of cash that I don't have saved up yet. What can I do? My goal is to be able to get an investment property with the least amount of money I need to put down and create some positive cash flow. Any advice would be greatly appreciated.