Best way to use built up equity?

[Brett Jurgens]

I have a rental in Denver that I've owned since 2013. Quite a bit of equity built up. Good rent, good longer-term tenant. 

Should I 1031 or is there a better strategy to keep it and borrow against the equity for another rental?

Thanks!

[Stephen Morales]

Given your mortgage situation I would opt for taking out a HELOC. Keep your current tenant in place. Use the HELOC funds for another investment strategy such as funding fix and flip projects. I have a buddy who did it with his 1rst rental earlier this year. He's had two successful flips so far and after this third one he's looking to pay off the HELOC and roll the profits into his future flips.