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Updated over 7 years ago,
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Heloc / refi on rentals or just let them be?
Looking for advice from someone who's been doing buy and hold for a long time.
I'm in a very fortunate situation where my brother and I inherited 2 fully paid off rental properties. They're old, but they're valued combined at around $300k and they bring in rents of around $1850 / month combined.
My short term goal is to get my passive income revenue stream to cover all the expenses of my primary residence which is around $2500k / month (I live in Hawaii). I've been looking at ways to do this, and really taking a good hard look at a turnkey rental provider like Memphis Invest.
My question is, would it be better to just leave these properties alone and use the cashflow to fund future investments, or would it be better to pull some equity out to grow my portfolio?