Keep Primary and use 1031 exchange to buy a new house

[Jonathan Bonck]

Hi Everyone,

I have a strategy that I wanted to get your input on. I currently have a primary residence that is market valued at $360K. I owe about $260K. 6 years from now I believe it will grow really well in equity becuase I am inside the city of Houston, which continues to boom. I am hoping it will grow to about $450K. I wanted to keep this property and use it as a buy and hold. I want to use the equity in the house to purchase a new primary for my family. Would the best way to do this be a HELOC?

Appreicate the input and guidance!