if you are looking to buy anything in San Diego or California, you probably can’t buy anything that will make money for at least six years or more.
If I had $500k of equity, I would buy several properties, all multi-units that cash flow, in Texas, North Carolina, Georgia, and Denver.
If you are taking money out of your home, you should probably refi (do not HELOC) and get a 10 year interest only or a 30 year fixed. Make sure the cash flow you get from the new properties will offset the additional mortgage amount you would have to make under the new loan.
