What to do with my 100k equity?
OK BP fam, here is my situation:
3/2 SFH rental that currently rents for $1700/month, but will demand $2100/month beginning 02/01/2019.
I owe 220k.
I can sell tomorrow for 320k on the low side.
***I've considered selling, upping rent, HELOC. Thoughts?***
@Tamika Wyche. Your rent needs to be 1% of the purchase price. For easy numbers, you buy a house for 100k the rent should be $1,000/mn. Of course there are other factors to consider, but this is just basic way of analyzing deals fast to see if they are worth digging deeper into.