What To Do With 800K in Property Equity?

[Michael Dumont II]

So I have laid low the past few years with investing. I had little drive to grow beyond my 3 properties ( 7 units, 6 rented units). Now I'm looking to move forward with my 800k in equity. Looking for thoughts and suggestions how I might move forward with expanding my inventory of properties. Note I do have the ability to meet 20% down on an average 300k property in my area Burlington, VT.

Thanks and happy holidays to everyone in advance,

[Jeff B.]

800k is a lot of cash doing nothing - - but money market CDs aren't worth the effort (at this time) either.

I would guess your 7 units are SFRs, so you should be able to get some level of LTV in a cash-out refi and use that to fund another purchase.

Caution: don't try this on all units at the same time! Pick one with the highest equity and push the LTV as far as the lender will allow to reap the most cash-out. This may be sufficient for the total down payment on the next deal.

As soon as possible, take net proceeds from rents and make large payments on the refi to restore your cash-flow.