Appreciation happens then...sell or refinance?

[Ken D.]

There is a lot of discussion about how to approach appreciation in RE investing, but say you got lucky. Then what?

My specific situation is that I have a property that I purchased for $300K, is now worth $600K, and still has $280K financed at 3.675%. Monthly rent is at about $2600. What would you do? Sell or cash out refinance if you are trying to expand your portfolio for financial independence? To throw a wrench into the equation, the property qualifies for primary residence tax exclusion until mid year.

Apart from my personal situation, I'm also interested to hear people's opinions on selling vs refinancing to grow their wealth in general. So, what do you do?

[Thomas S.]

I would sell it immediately to benefit from it's increase in value. There is no way, as a investor, I would ever rent a 600K property for $2700/month. That is a terrable investment.