Advice on Equity in Rental Properties
Hi,
Me and my husband have two rental properties. Our first rental is an investment property where we made 20% down payment. Our second rental was first a primary residence and then turned into a rental. There's 20% equity each in both the rentals. Somehow, we have been feeling that our equity is stuck and we are not able to use that equity. We have been thinking of taking HELOC on both the rentals and use that money to either invest in stocks or payoff some of the mortgage in our primary residence. At the same time payoff the loan as early as possible so that we pay less interest. We really dont know which direction to go with. Any advice regarding on how to access equity in our rentals would be really helpful.