New to real state investing
I am new to real state investing. Have been trying to educate myself by reading books , listening to podcast/youtube.
I have equity on my home residence that can be pulled out for a down payment (HELOC, Home Equity Loan). My strategy is to buy and hold.
Since real state investing is new to me , I don't really want to deal with repairs. I have been looking at move in ready or minor repair properties.
So far the numbers don't add up - 20% down payment and rents don't cover expenses.
What I am thinking of doing is to purchase a new home (new built) move in with a lower down payment.
And rent out my current residence.
Any suggestions would be helpful.
Thank You!