$200k+ in Equity.

[Ben Franco, Jr.]

I would really appreciate everyone's feedback. I purchased a single family home in 2008 in Corona, CA. for $295k. Our PITI is $1728 a month and rent is $2150 a month. 2400 square foot house built in 1989 with HOA of $55. I consider this rental as a type A property that has rented easily, great location and has appreciated. We consulted with a realtor and learned we could sell for $475k. What would you do in my situation? Should I sell and use to cash to reinvest in 2 or more rentals or hold it in my portfolio and use the cashflow to pay the house off sooner. We owe $248K. That's a lot of money to leave on the table if we didn't sell. local market is very expensive and I would have to drive 1 hour to a market where that numbers would make better sense. Preferably i would like to be within 30-45 minutes drive from my rentals from where I live, Riverside, CA. Again what would you do?

[Ben Franco, Jr.]

 Thanks for the advise. The reason for me to sell was just to leverage more with the equity that sitting there.  I would be using the money to buy more longterm rentals possibly in murrieta/temecula area. However, it does feel like I'm selling the farm. @Jo-Ann Lapin