Sell, cash our REFI or HELOC

[Tara Faulks]

I have a condo in Hoboken NJ with 300k in equity. We purchased it in 2008 for 440k and it's estimated value today is 700k. It cash flows 250+ a month which is positive but has remained steady for the last 5 years. Appreciation continues in the area and is expected to continue but is growing slower than the past. We are now actively looking to buy a couple investment properties. With $300k in equity that could be used to help fund future investments we are trying to see the best way to leverage this. The options we seem to have are sell and use a 1031 exchange, do a cash out refi or take our a HELOC, none of which we have experience in. The 1031 timeline scares me and although the return on the property is good And safe, I think we can do better with our new properties. The cash out refi might not allow us to cash flow which would be a problem and I hear HELOCs aren't easy to come by right now. Does anyone have any experience is these areas and making the best decision? What did you do and why? What other factors should I consider? Would love some First hand information so we make the best decision possible.