Use Equity to Purchase Another Home

[Evan Doan]

Hi Everyone, 

Hoping to gain some insight. My wife and I ready to start our Real Estate Investing business. We currently have roughly $250K in equity in our home. Cash is tight at the moment so we want to use the equity in our home to purchase an investment home/homes. I would love to hear some different ideas in how to do so. I would love to purchase more than one with the equity. I have looked into using a HELOC, but I do not know anyone else that has done this so I am checking here prior to doing so. Also, any thoughts on using that amount to purchase multiple homes? How would I go about doing that? Is partnering with a private money guy the best option? Should we start with one house and take the profits from that towards the next one? I appreciate any wisdom that can be shared!