Hi,I am owning a nice house currently worth 600K (clean from any mortgage or debt) and finally understood that sitting on this kind of asset is just a monthly waste of money.As I am completely new to the real estate investment business, I am wondering whether it would be the right way to sell my current house and buy several assets for rental or keeping this and getting a loan/mortgage and buy, probably, fewer assets.I am sure there are many answers to my question but I'd really appreciate to just get some kind of idea of what the right direction would be.Thanks in advance for any replies  

Cyrpress Park and North East LA are really growing as communities, you factor in location with cheaper prices you can see a new influx of a younger hipper crowd.

Assuming existing mortgage via "Subject to"I hope this helps!  

Also, I was looking at a 3% down mortgage?

Remember when talking with your mortgage lender that the current lease(s) from tenants on the property can be put toward your dept to income ratio whether or not you have had landlord experience in the past.

Here are some typical ones:1. subject to my partners approval (your pet rat can be your partner)2. 120 inspection (we have world class inspectors...and they stay booked)3. subject to a 60 year mortgage at -0- interest If these aren't enough you can go to the "wholesaling" forums and find plenty of advice from frauds and scammers. 

Yes, this would somewhat stress my finances, but figure I would get a mortgage later. 

My local bank tells me I have to qualify for a brand-new mortgage in order to take any money out of the house.

Is it to payoff the property and have income without mortgage payments?

The big concern is the high monthly mortgage as they took the 10 year plan.