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Updated over 9 years ago,
New member from KC- need advise for current situation
I am trying to begin my way into real estate investing. I do have goals to create some long term hold investments to get started.
Currently, in my primary residence after just 2 years living here I have about $60,000 to $65,000 of equity in the home. I'm trying to figure out the best way to leverage this.
- Should I take out a HELOC, rent my current home, and use the HELOC as a down payment on my next primary residency?
- Sell the home, use the equity for the next home down payment and just go after a private loan to invest with?
- Or stay where I am at, take out a HELOC and use this to invest with?
Maybe there are other options, but that's what I'm here for. Any advise would be awesome.
Thank you.