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Updated almost 3 years ago,
Sell my primary & use part of my equity 4 new prim & inv property
Hello,
I currently live near Midway Airport (Chicago) and the area has definitely changed. I would like to relocate my family to a home in one of the surrounding suburbs. So, I feel stuck since we have good equity on my current home. But I need to consider the safety of my children. I have approximately $100k in equity on my current primary home. I would like to sell to get into a new primary and use approximately $10k-$20 depending on the final sale from it to start my real estate investing venture. My other thought is to refinance do some upgrades on my primary and use part of the money to buy another primary. Then, rent out my current primary to have passive income.
Some advice would be greatly appreciated. Thank you in advance.