Refi or 1031 my Hawaii condo?

[Christine Johnson-Sundby]

Hello all!  I'd love some feedback on my situation.  I have a good amount of equity in my condo and am trying to figure out how to best use it!  The condo doesn't currently cash flow (it's not negative!) but the appreciation has been awesome.  I am a buy and hold investor and am trying to build a portfolio.  I don't have a lot of experience but have read a bunch of books, listened to podcasts and watched webinars.  I have a full time w2 job that pays well.  I do think the condo will continue to appreciate.  Renting it has been very easy and has had only minor repairs.  The price to sell the condo is currently at a 30 year high.  Decisions, decisions!!  Thanks in advance!

[JR T.]

If you can lock in gains now I would recommend doing a 1031 to get a portfolio of rentals local to you in Oregon/Washington. Be careful you pick new properties that dont make you pay back your depreciation. Consult a professional who is good enough to charge you for their help.

Lots of decent returns in Oregon within an hour of you. I know nothing about the markets in Washington. If you are happy with the cash you're getting back as a percentage of what you invest. Try to be free and clear within 7 years of the exchange. There's no benefit to enriching bankers in retirement.