All Forum Posts by: Micah Penley

Thanks @Richard Crowe that is a way I need to investigate. Do you think it would be better to refinance vice doing a equity line of credit? I am uncertain on how much it will cost I'm closing cost to refinance.

I currently have a house that I have been renting for the past 3 years. I have has the same tenants for those three years and there lease will be up in May 2019. There is currently 40K in equity in the house. I know I need to replace the HVAC system but the question is do I replace the HVAC and sale the property to use the equity to reinvest in a multi-family house back in my area. Do not allow my tenants to renew their lease and move in to turn the 2000 sq ft 3 bed/2 bath into a 4 bed/3 bath? The third step would it be better to place it on the market to use the increases equity to reinvest or try and rent it out at a higher rate and cash flow mkre.?