Big Decision - need your serious input...

[Matt H]

I own a 15 unit apartment building. What happened was our market soared over the last couple of years. Now the apartment is worth double what I paid for it. So I have a ton of dead equity sitting in that building.

My plan would be to sell the building. At market value I should be able to get about 1.5m for it. Then I could payout the first mortgage leaving me with about 900k. With that I could take the money and buy a much larger property out east where realestate is still cheap. I calculated that out east I could buy a building that would be cash flowing at around 3times the rate of what I'm getting right now, possibly more. Really this would make the most sense but I thought I'd get your input on it.

Good idea? Bad idea? Any thoughts?...

Because I hate to sell but I feel like I'd be foolish not to cash in on that dead equity. Like there's about 900k of it just sitting there not making me anymore money.