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Updated over 9 years ago on . Most recent reply

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9
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1
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Maggie Pena
  • New York City, NY
1
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9
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Please advise

Maggie Pena
  • New York City, NY
Posted
Hello, I need advise to make a smart decision. I want to continue investing in properties. I bought a small condo two years ago in Salt Lake City. I have a tenant at the moment. So far, the condo has a little bit of equity and the mortgage is being paid with the rental income. I live in nyc where apartments are much more expensive and I'm renting a small studio. I don't have money for the down payment to purchase a place in nyc. My questions are: what would be the best move? Should I sell the rental property to buy a place in ny? Should I take a home equity line to put for down payment? Do I have any other options that I am not thinking about? Your advise is much appreciated.

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