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Updated over 9 years ago on . Most recent reply

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Chris Hawkins
  • Kansas City, MO
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New member from KC- need advise for current situation

Chris Hawkins
  • Kansas City, MO
Posted

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.

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