Refinancing For Cash Out Or...?
Hello all,
Had to take a break from real estate for a while. But managed to purchase a VA repo beforehand. Now I'd like to purchase more property. Can anyone tell me if it's better to use the equity or attempt to get a new loan? Which would be the better route? 
What kind of returns did you receive in past years on the existing property? You must weigh the benefit of holding the property (with a line of credit for cash, monthly rental cash flow) verses a new project with additional or unforseen risks.
Eric & Rosa
[addsig]
I lived in the home from '95, until I moved out of the state. I've completed several repairs and currently have a tenant. The area is growing, but I'd like to see my holding grow as well.
How much equity do you have in the property?
do you have any money to put down on another property besides what you have in the property mentioned?
Dependent on your credit, there are a few routes you can go?
Do you want to live in the next property?
What type of property are you looking to acquire?
Answer these equestions and we can provide a better answer to your question.
Phil
Since the area is building up, I'd say there is almost $55000 in equity.
I have a few thousand to put down on something small,but that's about it right now.
I really hadn't planned to live in the property,but would leave unit empty for travelling purposes. Since my fiance and I are from the same city.
I'm looking to purchase a small apartment or multifamily unit. But I'm torn between a rehabber or one with tenants.
Sounds complicated, but I hope it really isn't.