What are you guys planning on doing about rising interest rates?

[Phil T.]

Like the title says, those of you that are financing properties, what is your plan with the rising interest rates?  The rates seem to keep on rising, and for those of us that finance our properties, is that going to price us out of the market, or just cut into our profits?  Obviously you'll just have to take into account the higher rate in your numbers, but is there any fancy way of working around them?  Should a guy still buy a property at a higher rate, maybe sacrifice a little profit and hope to refi at a lower rate when the rates fall again?  Save up more (not just the down payment) and pay cash for properties?  What are your thoughts?