Should I sale my current house which may have about $20k in equity or do a HELOC or hard money for my first deal. The hard part of moving is that I have a wife and 4 kids under 9.
However, my wife is willing to move if it makes us financially better.
2 - What if I wanted to keep the house as a rental? What would I do?
@Elijah Glenn I would recommend that you not move to get started in REI. I did this three years ago, but I only had one child (2 at the time). It was still very, very stressful for my wife. It did allow us to flip our Riverside, IL home, and subsequently buy our Berwyn apartment building. At the same time, I am not sure if it was worth it for my wife as it caused a lot of stress on her.
I start with the end in mind. Do you want to buy rentals to provide passive income? Do you want to increase your income through flips or some other active form of real estate investing? Does your family need more income? Try to build out where you want to be in five years and then work back wards to the answer.
Okay. Thank you. I'm trying see how to get capital.