I am a relatively new investor and I have a question that I believe has a few good answers, not just one....
The Question is.... Say you acquired $300k of equity through loan pay down and appreciation (Updates and market value) .
You now say “hey! I want a new car” or “hey! I want a new property” , what is the best way to extract your money from your equity and make another purchase?
. Sell Property
. Hard Money Loan
@Jacob Miller itll depend on if the rental income can support a refinance. Ifnyou can pull that equity out and still cashflow, I'd refinance. If it cant support a new mortgage, I would open a HELOC or sell, depending on where you think your market is headed. If it were in my area, I would open a HELOC because I see no downturn in my market in the foreseeable future.
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