Is it a good time to sell a Rental for Cash or Hold?

[Clayton Pearce]

About two years ago I decided I wanted to start investing in Real Estate with the hopes of acquiring several rental properties. I bought a house, lived in it for two years, moved out and started renting it. As you know, starting out in real estate my biggest barrier to acquiring more properties is capital. With the market being still being hot, even with the COVID situation, I am considering selling this house to pull out the $20k in equity I have added in order to have enough capital to purchase more properties down the road.

I am basically wondering if it is worth trying to take advantage of selling while the market is hot, and assuming the market will be more buyer friendly in the coming months with the impact of COVID taking a further toll. Even though selling a rental property seems to go against my long term goal of aquiring more rental properties. Any advise is appreciated as I am new to this and just getting started!

Thanks