All Forum Posts by: Tony Bevilacqua

@Jermaine Artis brilliant my friend! Thank you for that. 

Thank everyone for the insight. I am very grateful!

We bought the property in 2012 for $300,000. 

Today, it's worth about $350,000. 

I currently have $240,000 of debt on the property and we originally put down about $20,000.

I am in the Raleigh, NC area which is growing A LOT. 

I really don't like the $100,000 of equity just sitting in the house, but I also love having renters putting money into my "house account"

I suppose the thinking would be that I can get more bang for my buck by cashing out and reinvesting the $100k into something different. 

Am I right on that line of thinking?

Thanks again for all the insight...I am new to this.
 

Great points Kyle. I am torn on this, if I refinance I may be able to get about $100/month. I am not too concerned with income though; although, I don’t want to be negative each month. I do have a long game perspective on the house and if I refinance, I hate the idea of committing to another 30 years of payments with less favorable terms and a lot more $$$ paid out in interest. I guess I was hoping to get it paid off as quickly as possible so we can potentially live there in retirement debt free (great house in a great location).

Seems to be a definite lean to “sell” :-). 

@Jaysen Medhurst thanks for the reply! It was my primary residence from 2012-2018 and my original loan was was much higher than what I owe on it today. Plus, it’s had some great appreciation over the years. 

I have a sfh rented at 2000/mo. It costs me 2500/mo. (Im paying out of pocket 500/mo). I have 100000 in equity on the property. Refi for positive cash flow, or sell?