Home equity options for investment?

[Joshua Ryan Davis]

Hey I am new to real estate. I Refinanced my house to rent or flip a house paid off. My question is. If I a keep as rental. How do I go about taking equity out of a house that is paid off. I will need to get insurance on it still. New roof and ac being installed. New flooring throughout and w/ remodel. This is a house built in the 50’s also. 
Or will I have to use house as collateral to buy next investment?

[Colton Hahn]

What you would be doing is taking out a mortgage on that home, you would have an appraiser value your home and that would give you what it is worth. Based on that number you would be able to borrow against it up to a certain percentage based on the kind of loan you are applying for.

Lets say the house appraises for 300k, and you want to take out 50% equity on it you would be taking a loan for 150k (before closing costs, taxes etc).