Tons of equity...where should I start?

[Anthony Huston]

My goal is to build long-term wealth for my family, and eventually get out of my corporate job.  To be honest, I'm a bit tired of spending my days making money for someone else.  If it were up to me I would ditch this job tomorrow, but realistically it will likely take me a couple of years as I learn how to let our money work for us rather than work for money.

Here is the situation...we have around $900K in equity built up in our current home.  I have been spending the last few years rebuilding my credit and paying down debt.  About 10 years ago I lost my job, had a heart attack, and we almost lost everything.  Medical bills kept growing, and we essentially survived off of my credit cards.  I decided to take the hit to my credit to keep my wife's credit in good standing.  I am not on the home loan for that purpose as we wanted to keep our interest rate down.  I believe she is around 760.  I've fought back to 655.  

With that said, I want to start using the equity we have to invest in properties that will create passive income streams through long and short-term rentals as well as potentially purchasing and flipping properties.  

How challenging would it be to start utilizing the equity we have in order to start investing?  

Thank you in advance!

[Jim Pellerin]

Quote from @Anthony Huston:

My goal is to build long-term wealth for my family, and eventually get out of my corporate job.  To be honest, I'm a bit tired of spending my days making money for someone else.  If it were up to me I would ditch this job tomorrow, but realistically it will likely take me a couple of years as I learn how to let our money work for us rather than work for money.

Here is the situation...we have around $900K in equity built up in our current home.  I have been spending the last few years rebuilding my credit and paying down debt.  About 10 years ago I lost my job, had a heart attack, and we almost lost everything.  Medical bills kept growing, and we essentially survived off of my credit cards.  I decided to take the hit to my credit to keep my wife's credit in good standing.  I am not on the home loan for that purpose as we wanted to keep our interest rate down.  I believe she is around 760.  I've fought back to 655.  

With that said, I want to start using the equity we have to invest in properties that will create passive income streams through long and short-term rentals as well as potentially purchasing and flipping properties.  

How challenging would it be to start utilizing the equity we have in order to start investing?  

Thank you in advance!

@Anthony Huston You need to speak with a lenders/mortgage brokers to see how much of that equity you can actually pull out? This depends on your income and credit scores, etc.