Flip n hold my own house?

[Efrain Torrez]

So we owe $48k on our primary home. I've got $50k in capital to work with. It's a 3x2 but if I remodel the place I can add an extra room after I redistribute the space correctly by changing the layout of the house. So 4x2 at the end with an ARV of about $190k possibly $210-$220k. I'm getting anywhere from $30k to $50k on estimates from contractors. I want to do the remodel then pull the equity or get a heloc so I can start investing. Good ideal? Why yes/no?

[Efrain Torrez]

@Jonathan Greene

Yes the remodel would be something we need. It was either get into a new home and rent our current one or just stay and remodel this one. I've been improving my credit score but I'm still not where I need to be to get a loan. That's the reason I'm leaning towards remodeling the house. I'm just wondering if financially in a year or so when my credit score is good enough I can pull the money I put in and then some if possible so I can invest in a duplex or 4plex. Or do we just kind of keep dealing with the space we have now until we have to in order for the finances to make sense. Does this make sense?