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All Forum Posts by: Ro Minerd

Ro Minerd has started 1 posts and replied 1 times.

Post: Starting out w/ down payments

Ro MinerdPosted
  • Posts 1
  • Votes 4

OK so I'm new and have a one year goal of finally getting into real estate investing. 

My husband owns our house, and we have around $250k-$300k in equity in our home. We don't plan on being in this house long term but are not exactly ready to move out yet. 

We have about 100k in 401k and 30k in savings. No credit card debt and excellent credit scores. 

I guess my question is... do we sell now and take the equity to invest? Take a HELOC out to use as a down payment? Keep our current house, rent it out, and move to another house and use the home as our first investment opportunity?

I really just can't work out where to start financially as far as having enough for a down payment. Any advice would be very much appreciated!