What to Do with 550k in Equity in a Breck Airbnb?
We own a second home in Breck that we Airbnb for about 2k of cash flow per month. The mortgage is down to 134k and the house is worth about 700k. Wondering how we can use this equity to our advantage to scale up with more cash flowing properties or should we concentrate on just paying it off and gaining the 730$ extra a month without the Principal and Interest?
We also have a second Airbnb in Breck that we just acquired in a 1031 and expect about 1000/month cash flow. This property has a 60% LTV. Worth about 500k.
Property is expensive in Breck but Airbnb is lucrative up here for the right places.
Thank you for sharing your experiences and insight with me!!!