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Updated about 1 year ago,

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Cash out refi vs 1031 exchange

Posted

Hello! I'm a side hustle investor of 5 single family homes (SFH). I created an LLC with 3 partners 5 years ago with the intent of buying 1 SFH a year for 5 years as buy & holds, with traditional commercial loans. After 5 years/properties, we plan on reassessing where we're at & what to do next. Well, we're there. We just completed our 5th purchase, which is now rented. We'd like to continue acquiring properties, & recognize we have quite a bit of equity in our 1st 3 properties we purchased due to timing & buying below market value. I'm curious if you all would recommend doing a cash-out refi on one of those properties to use as a down payment on another property, or if you would 1031 exchange into something else (multifamily, nicer property, etc.). 

Thank you.

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