All Forum Posts by: TIM HUGHES

Great response. Thank you

So I should use my line of credit to pay down debt or save it until I'm ready to invest? If I use my line of credit I can knock out 2 monthly debts I have.

Hi BP,

I am trying to figure out the best course of action to take and im sure this question has been posed many times on here but some guidance would be great..question is do i try to eliminate as much debt as possible first or do i save as much money as i can to invest / purchase properties? 

Thanks!

Hello BP,

A couple questions about the VA Loan.

1. Do i have to have a certain amount of equity in the property before i can refi to a conventional loan? 

2. Is their a amount of time that i have to have lived in the property before i can refi to a conventional loan? I understand the VA recommends you occupy said property for 12 months.

Thanks as always BP!

Hi BP. Im looking for a little advice and the next step you would take if you were in my situation. I have a SF in Ohio that ive owned for several years, has great tenants and cash flows $300 a month. I currently owe 73k on it and have a second on it of 9k, should appraise around 100k. Credit score is about 650 with a stable job, dont have a lot of personal debt. I would like to purchase a MF and grow my buy and hold portfolio. Ive considered doing a 1031 exchange on the property as well as a HELOC or unsecured line of credit among other things. My questions is..what route would you take if you were me? Thanks in advance for the great feedback!