New to Real Estate, not sure what to do!!

[Jose Grimaldo]

Hello biggerpockets family. My name is Jose Grimaldo and I'm out of Lubbock, TX. I really want to get started in real estate and not sure what to do. I currently have a home that I'm paying on and have about 20-30k in equity in it. Not sure if I should sell my home and use the equity as a down payment for a duplex. My family live in one and rent out the other. My other option that I was considering was to get a home equity loan and use that money as a down payment for a property. Rent it out and let it pay itself off. Not sure what to do, I'm new to all this and would really love some opinions! Thank you!

[Eric James]

Hello fellow Texan. If all you have is home equity then you need to get your personal finances in order first. You should be on a budget so that you are putting money away every month. You should do that for an extended period of time before purchasing real estate.