Heloc or no heloc.. that is the question

[Laura Gomez]

Hi all!

This will be kind of a long post but just looking for some input on what would be best after I expose my plans.

I currently live in Las Vegas and am planning on moving back to California by mid 2021. I own a townhome here that I owe $110k on and have about $80k of equity at the moment. When I move I plan on keeping this townhome and renting out.

Considering that I am going to relocate I am wondering if I should pull that money out to use as a downpayment on a property in California and rent it out in the meantime until I move back down or to just leave that equity alone. I do have “savings” but it’s money I have working for me. I have some invested in flips, some out as loans, some invested for a monthly return.. this money I could use as a downpayment when the time comes to me moving back. Not sure what the best route to take is.

Thanks for reading. I’d appreciate any feedback.