Renting my home and rolling equity into new property

[Mike Lane]

Hey all, new to real estate investing. I am familiar with smart investment stratgies and risk tolerence. Real Estate has always been one of those things that worried me. I am now ready to take the plunge. My first plan step is going to be renting out the home me and my family lives in. Buying a fixer uper and putting the equity I have in my current home into that. I am thinking i can get my mortgage and payment on a HELOC LOC out of monthly rent. This will allow me to keep paying down while also helping to push forward the next property. I am mainly posting this for feed back. On paper it looks good... I have been in construction for a while. My expertise is high end custom homes, and high end remodels. I only bring that up to let you know I am higly aware of unforseen costs are part of the deal. I am not going into this with no bank acct to cover these unforseen costs. Looking forward to getting some feed back from everyone on here. THANK YOU!!