Where to invest $200K?

[Jacob Sundry]

Hi - I'm new to BP but have been a long-time lurker. 

I've got a rental property out-of-state that would net me around $250K were I to sell it now. Otherwise, the property will likely continue to see 3-6% YoY appreciation in the coming decade.

I would like to accelerate growing my available investment cash and/or net worth and am considering using the equity to fund my next venture. Obviously, it's a big decision so consider this post just one of many avenues I'm pursuing to educate myself and make an informed decision.

Here are some options I'm considering - I'm fine with only achieving one of these:

• Increase cash flow from the $750/month I net currently enough to offset the trouble/risk of selling now.
• Develop a new SFR or multi in Portland (or other growing market) and sell the building to increase my overall cash for future investing.
• Roll the money into the purchase of another larger multifamily (related to #1 I suppose).

Re: experience. I'm a licensed investor with two flips under my belt. I've also interned at a large multifamily development firm and learned the basis of underwriting large commercial multifamily deals. I'm also open to mutually beneficial partnerships.

That said, should I sell? If I were to sell, where you would you recommend I deploy the $200-250K?

Looking forward to hearing your thoughts and ideas.

[Laura Williams]

@Jacob Sundry You don't have to sell to get your money out. You could always cash-out refinance and then use that money to buy more real estate. If your current property is quality and in a good appreciating area it might be nice if you could hang on to it while acquiring more real estate?