Active duty military Lieutenant, just purchased duplex in May and spent majority of my liquid cash. I have orders to move duty stations in October and need to buy single family home in Columbia SC.
I have about 8k in bank accounts 15k in mutual funds/ readily available investments I’d rather not touch. Also 1 SFH I am renting out and cash flowing $200 a month. Duplex is breaking even barely giving me $60 a month but the intent is to refinance. I also get promoted in December and will be bringing in another 1000 a month after taxes.
My plan is to take a small interest loan of 10k by leverages my mutual fund/investment portfolio. I’ve been told I could qualify for $170 a month of 60 months.
Basically I am low on liquid cash and foresee major financial expenses in the next few months and believe I can weather the extra $170 a month in the future. Is taking the 10k loan a good idea or bad?
submitted by /u/ElCamino714
[link] [comments]
Active duty military Lieutenant, just purchased duplex in May and spent majority of my liquid cash. I have orders to move duty stations in October and need to buy single family home in Columbia SC. I have about 8k in bank accounts 15k in mutual funds/ readily available investments I’d rather not touch. Also 1 SFH I am renting out and cash flowing $200 a month. Duplex is breaking even barely giving me $60 a month but the intent is to refinance. I also get promoted in December and will be bringing in another 1000 a month after taxes. My plan is to take a small interest loan of 10k by leverages my mutual fund/investment portfolio. I’ve been told I could qualify for $170 a month of 60 months. Basically I am low on liquid cash and foresee major financial expenses in the next few months and believe I can weather the extra $170 a month in the future. Is taking the 10k loan a good idea or bad? submitted by /u/ElCamino714 [link] [comments]
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