Leveraging equity. Sell or HELOC???
Hello,
Curious on your thoughts for the following situation.
I am moving out of my primary residence in July. I have a 30yr fixed @ 2.875% with a loan amount of approximately 440k. The home is worth approx. 530k-550k. Originally, I was going to rent out the property, but now am thinking about selling it and using the funds to reinvest (likely) into an apartment syndication. My question is, would you recommend keeping the property as a rental (cashflows a couple hundred) and using a heloc for investing, or selling and taking the tax free capital gain to use for an investment?
Thanks in advance for the advice!!!
Respectfully,
Joe