Finish primary first or look for investment property?

[Travis Nelson]

We have been living in out home bought 5 years ago with an fha loan. We currently owe roughly 130k and the house is conservatively valued around 215k. While we have been able to update different parts of the house and alter the floor plan for the better, there are still some projects that need to be done to complete the remodel that would likely cost 10k (high estimate). After these being completed the house would conservatively be worth 215k. We would love to do something like an fha cash out loan and use this equity to purchase a multi family rental. Should we ignore the projects that need completing and focus on finding a rental property, or should we take out a smaller loan to finish the house so that it will a praise for the highest price possible first? Any other suggestions welcomed too. Thanks

[Thomas S.]

There is no upside in borrowing money to spend to get a higher appraisal. You never get back 100%.

Take a loan to invest and upgrade down the road with cash.