All Forum Posts by: Faruq Mcallister

Thanks for the response Jon. The investment for 20k is a promissory note on a project in a city with high values on fixer uppers. I am in Raleigh n.c housing appreciation is steady but not booming. It’s a great sellers market in this area right now but  I fear that that market will turn with in the next few years and that equity might not be available then. And the 50k left over will be savings available for any carrying cost that a loan would not cover. 

Good evening I need some input from you good people. 

I am just getting started in REI.

Scenario : I own my  home thinking about selling to pull out equity about 70k net after sale to use for investment. 20k to a investor in a great market giving 20% return in 3-4 months. The rest to start flipping to gain capital and brrrr to gain long term capital. 

Question is should rent out my home, mortgage is 1000. Rental potential 1500. Move to a rental , or buy a new home as primary. 

Or stay in my home and start looking for a investment property and maybe access a heloc for cash. 

Thanks for you input 

Niceeee