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All Forum Posts by: Cody Porter

Cody Porter has started 1 posts and replied 1 times.

General Real Estate Investing

Post: Access Equity to Purchase New Home, Start Renting Current Home

Cody PorterPosted
  • Posts 1
  • Votes 0

Own one home currently 1,770sqft 3bed2bath. 15yr fixed 2.625% -- Mortgage +  Escrow $1650/mo, worth $365k, owe $135k

Trying to buy a $400k home to move the family into, but keep our current home as a rental property.

Considering refi, heloc, or home equity loan to access equity for $80k down payment.

Would rent my current house for about $2,100-$2,400/mo

Can someone with some knowledge/experience tell me what's the ideal way to access my equity to make the most investment sense?

0 Votes
Atlanta, Georgia