Leveraging investment property equity in a Single Family Home

[Amy Healy]

Hi Bigger Pockets!

I'm trying to sort out my options and make the next best move now, or within a few years. My husband purchased a single family home in 2019 and were able to refinance to an incredible interest rate of 2.7%. We have since purchased another single family home and have been renting the other one since December 2022. The property appreciate rapidly over the last few years. While our initial down payment was modest, our loan to value is estimated at 71% based on current home value. Our current mortgage is 314k and we believe the house would appraise for 440k.

We would to acquire another property (or more!), but are uncertain about how to access equity from our investment property or if we should consider selling the house. For additional context, we don't think there much leverage in our primary residence as the LTV is 80%.

Does anyone have any suggestions on how we could leverage our investment property? Also, In this next property we are not tied to purchasing in Portland, OR. Any suggestions on other markets would be appreciated.

Thank you!