Sell house as is and use profit for investment??

3 Replies

@Tony Aguilera , I wouldn't sell the house in this case since you'd still need a place to stay. If you're able to do a cash-out refinance on your property (at 70% of appraised value), you'd be able to pocket $52,000, which is enough for a downpayment on another property. The $52,000 is not taxed since it's a loan. You could also put that $52,000 into a syndication as a passive investor.

Best of luck!

Can you refinance to lower interest rate and take the cash out to buy another home or two with bank financing? Rent out your current home, buy another home to move into as well as buy another home to use as an investment? It really depends on where you want to be investing.