How to start my journey

Question

Hello all, I'm looking to start investing in real estate but I'm not sure how to enter the game or even if it's the right time. I have roughly 10k accessible and about 100k equity in my place of residence. My credit score is great and I'm wondering if I should move out of my house and rent it out or if the wiser move would be to purchase a multi family and stay at my current place.
I have a family and a dog so moving into something smaller than 3 bedrooms 2bathrooms with a fenced yard isnt feasible. (For those thinking that I should house hack)
Elaine

Ebonie Beaco · Answer

You’re actually in a solid position to get started, especially with strong credit and existing equity. One smart first step is to run the numbers on keeping your current home as a rental using a conventional or HELOC strategy to access some of that equity, while purchasing a small multifamily or single-family investment separately. Since downsizing or house hacking isn’t realistic for your family, maintaining your primary residence and buying a cash-flow-focused property can help you grow without disrupting your lifestyle. With $10K liquid, focusing on markets or properties where leverage works in your favor will be key. Make sure you evaluate rental demand, realistic cash flow after expenses, and long-term appreciation potential before deciding. I’d also recommend speaking with a lender early to model both scenarios side by side so you can see which option best aligns with your financial goals and risk tolerance.