Updated almost 5 years ago on .
Remodel first house or buy second?
I bought my first house for 80k and the bank told me I have around 40k in equity I could actually pull out. The house is in decent shape and could rent for around 900 a month as it sits now. The house needs a new roof very soon and ac unit is rough. Also needs basics like new flooring (has vinyl) and needs some drywall work. I honestly don’t see the value increasing enough after a complete remodel for it to be worth doing. So my question is do I take care of the issues now or I could reinvest the 40k I could get from the bank into a duplex or maybe another single family? I could easily put 20k into a remodel and have a very nice house.