Sell Home To Reinvest?
Hello I bought my first house a few years ago. It has almost doubled in value (recent appraisal) due to updates and the market overtime. My overall goal is to get cash flow to leave my w-2 job one day. At first when I was looking into real estate investing I thought take a HELOC out and use as a down payment and rent out my primary residence and start working on another property. (I am not super handy I would have to contract some things out). Then I looked at how much my house has risen and now am leaning toward selling.
If I sell I could reinvest the cash into another rent ready home and still have funds leftover for the next project. The pro I see is that I would not be using borrowed money (the HELOC) for the 2nd property but my own money.
Real estate I have been working a little on the side to learn the buisness but 95 percent of my income is from my w-2 job. I have learned a lot and cash flow is my goal. I feel I should sell and wait for an opportunity or deal that fits because the market is high right now.