Updated about 2 years ago on . Most recent reply
Sell and save or keep?
I have a town home that cash flows $600 a month at an interest rate of 3% ($250k left on the loan). It currently has about $200k in equity. I lived in this house for 7 years but recently moved 2 years ago. I have one more year to decide whether to sell it without getting taxed. The idea is to sell and put the $200k in a high yield savings account and then when the rates go down a bit more buy two properties. The other idea is to hold on to it and then when the rates go down refinance, pull out equity and buy one additional property.
What is a better move?