This week’s question comes from Brandi through Ashley’s Instagram direct messages. Brandi is asking: Our current home could give us about $260,000 in net proceeds if sold. We plan to purchase rentals with those proceeds. But, our home is in a good location with good appreciation. Should we sell our primary to buy properties or refi and make it a rental?
The sell vs. refi argument is back once again! In this hot housing market, it’s no surprise that homeowners want to take advantage of their growing equity by selling their properties. But, doing so could cause you to lose one property only to have to go out and find another. Although the sell vs. refi answer is specific to each investors’ situation, there are a few quick ways you can establish which is a good move for you.
If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).
Ashley Kehr:
This is Real Estate Rookie, episode 182. My name is Ashley Kehr, and I am here with my co-host Tony Robinson.
Tony Robinson:
And welcome to the Real Estate Rookie podcast. And if this is your first time joining us, we are thee podcast focused on those investors who are at the beginning of their investing journey. And so if you don’t have a deal, or maybe you just got a couple and you’re looking to scale. This is the podcast for you. Ashley Kehr, my wonderful co-host, what’s going on? How are things happening on your side?
Ashley Kehr:
Not much, we’ve had a busy week of recording podcast. And so this is sad this is our last one for the week.
Tony Robinson:
I know.
Ashley Kehr:
But we just found out that Tony will be coming to my area in a couple weeks.
Tony Robinson:
Yep.
Ashley Kehr:
So that will be great to get to hang out for a day while Tony potentially looks at a property.
Tony Robinson:
Yeah, I’m super excited for that. We got a beautiful property under contract in Western New York. So excited to…