Best Strategy to use $200K in Equity

[Kris Cline]

I have a little over $200K in equity in my personal residence and I'm looking for the best strategy to get my first rental. I'm considering selling my home and using the equity left over to house hack a duplex and purchase a second rental property. I want to use the remainder to start doing flips. 

I like my home but, this seems like a better option than trying to use a HE loan to get the ball rolling. Is this the best approach to using the equity for getting my first rentals?

[Brett Deas]

What is does your life look like? Do you have a family? Where do you live? If some of those questions are answered it may be easier to help you with your question. But... not knowing that here are some options.

1)Why sell the house? Look at doing a refi then buying another primary with that money, then you can rent out your old house and your new place will have owner occupant interest rates advantage.

2)It sounds like you have a big chunk of money for you area, so why don't you refi and use that cash to just buy a rental, no reason you have to sell your house, especially in this market. 

3) Decide what you truly want to focus on for investing. Do you want to go after small multi family, or single family? Do you want to start flipping (Don't recommend it as an investment). Once you narrow down the strategy then the destination becomes clear.

Feel free to reach out if you have any questions!