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Updated almost 3 years ago,
Trading Up to Multi-Family building. Advice needed.
Hi,
I bought my first investment property many years ago and it has since tripled in value. I'm guessing I have about $700-800k in equity to play with. I've been looking at multi-unit investments and am wondering if I should try to cash out my current investment and do a 1031 exchange for a multi-unit property (20+) or take out a HELOC on my first property to finance the down payment on a multi-unit building. Any advice or thoughts would be welcomed.
Auria