what would you do with 500k equity free and clear?

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thanks for the comment @Paul Moore . For you and @Caleb Brown , do you have recommendations on how to research good deals on vacation rentals? I'm looking in the Santa Barbara area and know that they are strict about airbnb permits up there. But I think that's ultimately where I'm going to zero in on for the STR/vacation rental. Thank you both for inspiring me to pursue it!

Originally posted by @Jennifer Gardner :

thanks for the comment @Paul Moore . For you and @Caleb Brown , do you have recommendations on how to research good deals on vacation rentals? I'm looking in the Santa Barbara area and know that they are strict about airbnb permits up there. But I think that's ultimately where I'm going to zero in on for the STR/vacation rental. Thank you both for inspiring me to pursue it!

Hi Jennifer,

I'm very well versed in the STR restrictions in Santa Barbara. I own a few here and can talk you through the various opportunities. Feel free to shoot me a PM if you'd like!

@Jennifer Gardner if you had a SFH I would not sell in your situation, but would cash out refi. The condo situation makes it a bit gray. However, one of your biggest advantages is that your property tax basis is lower relative to current investors, so you have structural margin to capture going forward.

Remember that anytime you sell you have transaction inefficiencies (commission, tax, etc), so that is a barrier to overcome.

You’ll likely have more appreciation coming your way so that gain will beat any cash flow you can capture in Midwest markets…. With a lot less headache