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Updated over 6 years ago on . Most recent reply

User Stats

21
Posts
19
Votes
Brandon Graves
  • Specialist
  • Santa Rosa Beach, FL
19
Votes |
21
Posts

What to do with my 100k equity?

Brandon Graves
  • Specialist
  • Santa Rosa Beach, FL
Posted

OK BP fam, here is my situation:

3/2 SFH rental that currently rents for $1700/month, but will demand $2100/month beginning 02/01/2019.

I owe 220k. 

I can sell tomorrow for 320k on the low side.

***I've considered selling, upping rent, HELOC. Thoughts?***

Most Popular Reply

User Stats

473
Posts
230
Votes
Taylor Chiu
  • Real Estate Agent
  • Salt Lake City, UT
230
Votes |
473
Posts
Taylor Chiu
  • Real Estate Agent
  • Salt Lake City, UT
Replied
@Brandon Graves with the penfed 80% loc your numbers will look like this. 320k x .8 = 256k - 224k = 32k loc If you sell, you would be looking at 320k - 224k = 96k - 25k (realtor / loan costs) = 71k. Hard choice. If you have somewhere better to put that money, maybe selling isn’t a bad idea after all.

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