Need advice on next purchase:

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]

<a href="Read More“>View Full Article

Need More Commercial Real Estate Leads?SAVE 40% this month!

Our commercial valuation calculator was created to evaluate commercial real estate. In 6 quick steps you will know your NOI, CAP RATE, and IRR.

Now you can get your own branded version of our calculator!

Generated by Feedzy