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Updated about 8 years ago on . Most recent reply

User Stats

12
Posts
1
Votes
Daniel Lee
  • Amarillo, TX
1
Votes |
12
Posts

Need some stradedy advice.

Daniel Lee
  • Amarillo, TX
Posted

So I need some advice on best way to proceed.  I'm looking at investing pretty heavily this next year but not for sure exactly what route to go.  I have my main home in Amarillo, TX which is valued at $130,00.  I owe $70,000 on it atm.  I also have a rental that is valued at $55,000 and owe $30,000.  I'm wanting to either get a home equity line of credit or home equity loan on my main property and possible do the same on my rental.  Should I use that cash to either buy and flip a few houses to get some more equity built up or invest in some rentals atm.  Short term I'm needing that cash from a flip to keep the investing going but long term plan is to build up on the rentals for continuous income.  Please advise what is the best way to proceed.  Thanks for all input.

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