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Updated about 6 years ago,
Paying off the PRIMARY with EQUITY
Hello Everyone....My First Post and truly wanted some Feedback based on experience. To start, I will tell you that I am conservative with investing. I have 2 investment properties- Combined equity of about 600-700k and I have a MTG on my primary of about 400k. (Valued at 1.4-1.5)
Any ideas or experience from anyone about tapping into the equity from the LLC's I have in both investments to pay off my primary.
Then as focus on paying off 1 investment at a time. I know most would say to take full advantage of the equity and roll into a larger property possibly. That would mean more expenses and taxes- Based in NY and the investments are in the hamptons. In a good place right now and would rather not invest until the MORTGAGES drop some to be extremely cashflow positive.