Happy Humpday BP! I have a long winded question for you all.

[Terron Winn]

Hello all, 

I am 32 years old and I would like to have financial freedom; with that being said, I am trying out Real Estate. It has always been the back of my mind but now I am ready to Jump into the waters; However, I dont know where to jump in at or how too. 

I am currently living in my home In San Diego, CA back in 2011 and I bought it for 209K. Now, this home is now has a market value of 380K and I only have a principle balance of 183K. (about 200K in equity) When I bought purchased, I barley made the DTI requirements with the skin of my teeth as I only bring in about 35K a year at the time. As of now, I only bring in about 45K a year. . . As I want to start investing with the equity in my home, I still think the DTI would impose a problem in trying to obtain another loan.

My first thought would be to take out about 100-120K of equity on my PR (if DTI allowed) and then purchase a new PR while renting out the first one. ( I already estimated cash flow on my first residence and it checks out)

Any other suggestions and or plans would be greatly appreciated. 

Thank you in Advance. 

Terron.