Starting out w/ down payments

[Ro Minerd]

OK so I'm new and have a one year goal of finally getting into real estate investing. 

My husband owns our house, and we have around $250k-$300k in equity in our home. We don't plan on being in this house long term but are not exactly ready to move out yet. 

We have about 100k in 401k and 30k in savings. No credit card debt and excellent credit scores. 

I guess my question is... do we sell now and take the equity to invest? Take a HELOC out to use as a down payment? Keep our current house, rent it out, and move to another house and use the home as our first investment opportunity?

I really just can't work out where to start financially as far as having enough for a down payment. Any advice would be very much appreciated!

[Carlos Valencia]

Hello Ro, 

Renting out your current home can add extra income which can help you increase your borrowing power. It will depend on how much you need for your next primary residence if what you currently have in savings enough for down payment and closing cost then you should be good. Once you buy your next primary home and you plan to live there and move out after a year to buy your next property then you need to make sure your potential lease will cover your future Mortgage payment with Tax and insurance. Then continue to do the same with your future investment properties. 

@Albert Bui @Matthew Kwan