Cash out on equity, sell, or HELOC?

[Mike M.]

Hey! Would love some feedback/thoughts on my situation...

I owe $250k on a Delaware home that is valued at $335k. Current mortgage is $1450 and rent is $1800. Far from a 1% home, but it pays the bills and was a brand new build in an “A” rated neighborhood with little to no maintenance .

I'm thinking of cashing out to purchase a better performing SFH or multi family but I'm torn on the best way to get the most value out of the equity available.

Sell?

Refi?

Thoughts?

Thank you for your time!

Mike

[Jake S.]

Hey @Mike M.! I think I'd sell and find a better performing investment unless you really enjoy the current one and it's not a drag.

You could redeploy that $80k of equity across 2-4 investment properties and more than likely increase your cash flow, even after all expenses are budgeted for.