A lot of investors are sitting on equity right now. The question is: Deploy it or protect it? I’m seeing two camps: • Pull equity and keep scaling • Sit tight and protect low-rate debt Neither is wrong it depends on: • Cash flow • Market • Long-term goals • Liquidity position Are you actively using equity right now or staying conservative?

I'm definitely not sleeping on my equity, just being strategic about it for now. I've got two recent acquisitions (within the last three years) with prepayment clauses that are locking me in for the moment until around August this year. If I could refinance those right now, I absolutely would. But once those restrictions lift, I'm planning to tap into that equity and keep scaling. I also have another property in Miami that I'm looking to move. I'm planning a 1031 exchange to relocate it from Miami down to Indianapolis or the suburbs where I'm based for a different property (townhome into either multifamily or High End SF). So yeah, the equity's there and I'm not ignoring it, just working within some constraints and making strategic moves. Once these prep clauses expire, it's going to be a different story.