FIRST BRRRR - Need advice on the right move.

[Todd A.Rieger]

I have been reading, watching videos, and soaking up all the advice from posts on Bigger Pockets the last 6 months.

I am Licensed Builder, Home Inspector, and Real Estate Agent.

I also have 24/7 a maintenance business on Hilton Head Island with my family.

Longer term we are looking at doing BRRRR's with Short Term Rentals. Which will be a another post for the future.

Need some advice on pulling equity out my current home to get the ball rolling.

I owe about 222K on my current home, but could sell today at $400k. Would rather pull the equity out to do my first BRRRR and keep the home.

My mortgage is $1,000 a month and rent-o-meter tells me I could get about $1,500 month. 

I have been looking at doing a HELOC, but I could also use my VA HOME LOAN or maybe both.

Kicker, the home is in my wife's name, but she is on board with BRRRR.

We are flexible in moving or even building.

Any advice would be appreciated to get the BRRRR process rolling.

Thanks