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Updated about 5 years ago on . Most recent reply

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Looking for a resolution to start my journey

Faruq Mcallister
Posted

Good evening I need some input from you good people. 

I am just getting started in REI.

Scenario : I own my  home thinking about selling to pull out equity about 70k net after sale to use for investment. 20k to a investor in a great market giving 20% return in 3-4 months. The rest to start flipping to gain capital and brrrr to gain long term capital. 

Question is should rent out my home, mortgage is 1000. Rental potential 1500. Move to a rental , or buy a new home as primary. 

Or stay in my home and start looking for a investment property and maybe access a heloc for cash. 

Thanks for you input 


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