Updated about 6 years ago on . Most recent reply
Equity in rental property
3 properties with $50 in equity on each one. Should I refinance and pull the money out to invest into more properties or sale one and keep two with equity? All 3 properties cash flow 2%. Can sale one property and make $75k or should I refinance it.
Most Popular Reply
Bill B.
#3 1031 Exchanges Contributor
#3 1031 Exchanges Contributor
- Investor
- Las Vegas, NV
IMHO those numbers aren’t big enough to justify the work and costs of the refi to get 37k minus expenses out of each property. If you hate one of them, or one is a much bigger headache feel free to sell that one, or if you have a bunch of gains or depreciation involved exchange that one for something more expensive.