Quote from @Mary Jay: Quote from @Jay Hurst: Quote from @Mary Jay: hi guys,so I have a lot of equity in one of my rentals but the interest rates are super low on it. so I dont want to do a cash out refinance on it because I dont want to lose the 3% interest rate on it.I want to get some cash out of it via Heloc or another vehicle,  so I could buy another rental, but its not my primary, so I cant get a HELOC on it from lots of banks....I think PenFed does helocs on rentals, but because I have more than 5 rentals, I dont qualify for their HELOC loan.IS there a bank that would give a HELOC/cash on a rental?

What is the point behind having paid off real estate, if you lose it later in life to oppressive taxes?

Some properties actually lose money each month but gain value through appreciation.

Con - lose any possible property appreciation over the next two years.

Even with 10% down you’re “hoping” that’s all you lose if it all goes wrong. 

The opportunity cost of losing potential market gains in your retirement fund should also be considered.

Even if you break even, you will lose money every month it sits vacant, when you need repairs, property management, etc.

- Land Contract would be better:)Question: how are you going to lose $2500/month if you rent?

With the equity you’d free up, paying off $50k in personal debt and boosting your credit score while freeing up $3k/month sounds like it could significantly lower your stress and open doors for future projects.That said, selling means you’d lose a cash-flowing asset, even if it’s not huge.

if it is unsecured loan that is the consequence, you lose they entire thing. as far as tax write off, sorry but none.