Originally posted by @Darin Knight:
Hi BP. I think I'm a buy and hold investor. I have 3 single family units in PDX, all three 50% + equity. Newish unit in the 'Couve (30% equity) that has me thinking cash flow might be more interesting than paper net worth.
I won't shy away from providing details, but broadly speaking I am wondering if I just stay the course, or double down. Double down would entail multiple HELOC's or cash out refinancing.
I might as well get to the real question. I have over $175K equity in my best PDX rental. It's burning a hole in my pocket. Do I just pay off the last $125K in the next 10 years 5 months? Or refi and buy a duplex in Vancouver. The irony here is that at 30 years the PDX rental would have nearly the same payment after 100K cash out refinance as the 15 year I've got today.
My ROI declines with every payment, my piece of mind increases. Double down or stay the course?
Thanks for any feedback.
Darin
Darin welcome to BP. My wife and I are up in Vancouver.
at my age (26) I would use the leverage to my advantage as much as possible. However if I was closer to retirement I would look more into paying them down unless I found an incredible property.
Elliot
