Updated about 9 hours ago on . Most recent reply
Best way to get out my equity or sell land to continue my real estate journey
Hello, Help financially literate friends!
I currently have 3 doors, 1 long term and 2 short term in Utah. My job moved me to SW missouri and we are currently renting. Wanting to get into a live in flip or a remodel for value add purposes to help add another door and move again in a year or so.
The big question is on of my utah properties is worth over 1.2mil i owe 225k on the property I have a 3 percent mortgage on it. I long term one side and short term the other. It had 7.2 acres of land. Should I sell off the potential building sites for apartments in the future that the land could be and kind of the plan. Or sell for 250k ish or so for the 5.5 ish acers. And roll that into the live in flip or remodel. Should I hold for the future. In a town with very lil land options for people to own and build in city limits. Or try to sell the whole thing make a million and set up right for getting more properties or hard money lend it etc.
Not much is holding us to the town now and I want to use the last 9 years put into building and making this land investment worth it for my family and I. Wife and I are stuck on what we can do to help us get a new home in the midwest and continue to grow our net worth and retirement egg.
Would love to know how you would pull out some money and make a go with it.
Most Popular Reply
That's a great position to be in—huge equity, low rate, and optionality. Selling the whole thing gets you max liquidity but you lose the 3% mortgage (hard to replace). Splitting off acreage could be a middle ground: keep the cash-flowing asset + cheap debt, while freeing up capital for your next play. If you're aiming for Midwest value-add flips/live-in projects, I'd lean toward extracting some equity (refi, HELOC, or partial land sale) rather than dumping the golden loan.