Convert my home to a rental and sell equity

[Alexander Wehrmann]

Hi BP Community

I am moving and would like to keep my current house and convert it to a rental; however, I need to pull some equity out of the house for the down payment on my new house. The home is worth $1.3mm today, and I have $700k remaining mortgage and $600k equity in the house. I'd like to keep $100k equity for myself and sell the other $500k to equity investor(s) so I can keep the excellent mortgage (fixed at 3.25%) and take advantage of the cash flow and build more equity. Finding a cash flowing property in San Diego is not easy, so this is a fairly rare opportunity, and I can self-manage it.

Because I am closing soon on my new house, I don't have as much time as I'd like to meet equity investors the traditional way (meet ups, networking, etc.) and am looking for something fairly quickly. Are there any crowdsourcing or other online opportunity that folks have found effective for something like this? Most of the sites I've found seem to be more targeted towards investors, and not the person bringing the deal opportunity. Or any other tips for a first time fundraiser looking to meet equity investors with this specific criteria?

Thanks!

Alex