NC-New to Real Estate need advice on owned property/purchases!

[John Tart]

I am new to Bigger Pockets but not necessarily new to Real Estate.  I'm relatively young (31) but have learned a lot from my Grandfather in terms of real estate before he passed away a few years back.  

I currently own a townhouse that has been paid off.  I am looking at a few properties now that I want to purchase to either flip, or rent.

My question is, would it be better to sell the townhome that I currently have and use that cash to invest in new property to flip and use for renovations/construction...or would I be better suited keeping the townhouse, renting it out and using the equity to take out money for other real estate investments.  I have a property in mind that I am looking to buy but don't have the cash to outright buy it.  I either plan to flip the property or rent it as well depending on the market when finished.

I came here with my question because you all have been there, done that.  Which is the better option?  Is there another option I am not aware of that can work?

Thanks!

-John in Raleigh, NC

[Tiffany Alexy]

@Adam Schneider is right, we can't possibly advise you without seeing the numbers...

My gut reaction is keep it and pull the equity out to use on future investments, but that's because personally I rarely sell any of my rentals.