Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 8 years ago on . Most recent reply
Sell or Cash out refi??? Please help!
Hi! Need some help on a situation. I need some cash to buy additional rental properties. I have one house that I bought 5 years ago for 85k and is now worth $245k. The problem is that it rented for $1200 in 2011 and it rents for $1300 in 2016. My question is, should I refinance it and take cash out or do I sell it? Either way I would take the cash and invest in properties with a better price to rent ratio. Thanks for taking the time to read this.
Erik
Most Popular Reply
I would cashout and redeploy the equity and continue to build your asset portfolio and enjoy the appreciation when you can, the cash flow when you have it, and the depreciation when you have it.
Selling an asset to buy another one to me is like selling fish to buy worms to go fishing.
If I can assist, let me know.