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Updated over 2 years ago,
Should I sell my house and use equity to invest?
Hello,
Just discovered bigger pockets and excited about investing and looking for financial advice.
-purchased home 2016 $0 down 3.75%
-with mortgage plus monthly costs, it currently rents with a cash flow of $850 monthly (low maintenance, strong rental market)
-I could sell the home today and have $325,000 liquid, $0 debt
Should I be doing something better with my money?
I own raw land that I am interested in building a small rental on, but besides that, I don't know what investment would create the most return.
Also, I love to travel and currently live in my RV. So I don't need a home to live in. I'm more interested in using my home as an investment than comfort.
I am not great at math, so here is where I am confused on what to do...
$850 cash flow X12 months is a $10,200 profit. If I invested $300,000 in tax liens, I could earn 9 percent. $300,000 X 9= $27,000 per year?
Not sure what I am failing to consider.
Please let me know what you think, and if you have any recommendations for advisors.
Thank you,
Stephanie