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Updated 8 months ago on . Most recent reply
Cash-Out Refi or Selling
Looking for advice on what I should do with my current home as I look for my next primary residence. I currently do not have enough down payment.
- Sell the current house (current mortgage at 3%) and use the gain for down payment and 1031 exchange for the new home.
- Keep the current house, cash-out refi at higher rate for cash, and convert to investment property (assume 0 cash flow per month).
What would be the best option? Thanks.