Selling a cash flowing property: How to Analyze options.

[Pete Cordero]

Hello, 

I was hoping for a little help. I have a condo in CA that luckily has had good appreciation and thus, a good amount of equity built up (say about 200k). It also luckily cash flows about 6k a year. 

I am looking to invest outside CA where numbers for investment rentals make better sense and leveraging the equity would be helpful (like a 1031 exchange). Does anyone have a recommendation on how to analyze whether one should sell a property with decent cash flow but high amount of equity. I realize cash out refi or HELOC are also options.

If there is a good article or recommended analysis to play out scenarios you can share, I'd greatly appreciate it. 

Thanks in advance.