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Updated over 4 years ago on . Most recent reply

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Zach Jones
  • Florida
28
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45
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HELOC vs Liquidating Portfolio?!

Zach Jones
  • Florida
Posted

So my last post on BP, I was asking for advice purchasing a very old rental in a D area.. Since then, I've saved some cash and reevaluated.  I've found a really clean triplex 1 city over, more then I wanted to spend but pretty turnkey as far as maint/and the property goes.  

My question for you all.. being a income property, I need 100k down. I've got the cash between a stock & crypto portfolio and now is not a great time to sell due to the current run up of both. I'm wondering people opinions on doing a HELOC vs selling assets that are gaining value. What would you guys do?

Also, major part of this.. TAXES.  Selling everything would lead to Uncle Sam adding over 100k to my annual income and therefore tax me quite a bit for it.. give me some ideas! Thanks

Most Popular Reply

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1,571
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Matthew Crivelli
  • Lender
  • Massachusetts
1,012
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1,571
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Matthew Crivelli
  • Lender
  • Massachusetts
Replied

Uncle Sam doesn't tax borrowed money. I would go HELOC if possible.

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