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Updated over 5 years ago, 07/01/2019
Cash out refinance question
Hi everyone, I am new to real estate investing but have over 30 years experience in the investment management industry.
My question centers on the merits of doing a cash out refinance on a rental property that I originally paid cash for. The purpose in refinancing would be to bump up my cash on cash return. Is there a seasoning of ownership and rental history that needs to happen before doing this?
I have enough liquidity to pay cash for rental properties but wanted to poll the group here to get your feedback on your experiences and any other angles I might be overlooking.
My cash on cash returns so far on cash purchases is in the 8-10% range but I would like to have a few properties in the portfolio that generate much higher returns.
Thanks in advance for your input. I am new to Bigger Pockets but am enjoying the forum and will be upgrading my membership soon!