Leveraging first property to buy a second
I bought a townhouse in Boulder, CO in 2016. It does not generate cash flow. I was a complete newbie and bought it on gut instinct. I want to buy a second property and am wondering how to leverage it to make a down payment for a second. I have 20% equity in the property. I am not planning on selling it because the value has increased about 15% since I purchased it and I think the market will sustain that level of increase in that part of the country but sometimes I wonder if I should sell it and use the cash to buy two different properties.
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@Julie Norris I can't think of any specific resources off the top of my head. Most of what I've learned is just from talking with people and doing deals. Joe and I teach a lot of classes together and currently revamping them. One of the topics for a class is a detailed discussion of HELOC vs Refi's. Joe will be happy to discuss them with you.