Uptown Minneapolis Condo

[Adam Walz]

Investment Info:

Condo buy & hold investment in Minneapolis.

Purchase price: $225,000

Bought in 2005 with no money down on a 3/1 arm right before the financial crash. Refinanced into a 30 year fixed when I realized I couldn't sell because of the dramatic drop in prices...so buckled down and worked to pay it off over the long run. Lived in it for 5 years, but then have rented it out to long term renters ever since. Have a stable renter in place today and paid off the 30 year loan this last year. Feels great to have all that equity and pure positive cash flow....but now that I'm at BP, I'm thinking about a HELOC to create some leverage and get into another property. Potentially a house hack here in SF.

[Jordan Moorhead]

@Adam Walz definitely look into ways to tap into that equity! That money can work harder for you than it is now most likely. It's worth $250k and what is the rent?