All Forum Posts by: Jeff Eisman

I need some help figure out the best way to do this while not taking the Tax hit and losing the equity we al ready have. 

What we own currently:

Rental property in CO with only a HELOC with a minimal balance. Capital gains if sold +- 300K

Primary residence in Charlotte NC low monthly payment capital gains if sold +- 250K

We would like to convert the primary residence to a rental then buy another residence in Charlotte. I would love some thoughts on a way to use the equity we have on out 2 property's to purchase the new home. 1031 exchange?, HELOC? Cash out refi? Hopefully this makes sense, Thanks for any help

I am looking at taking out a HELOC on a rental property and using it for home improvements on the Rental Property and my Primary residence. I am also thinking about using part of it to pay down my primary residence mortgage. Under the new law can I deduct any of the interest? Thanks in advance