Refinance to get equity out

[Jasmin Thompson]

Is it smart to refinance right now to get equity out my home. I have a about 70k of equity in my home. I am looking to purchase my first rental. My other option would be to pick up my family ( 3 kids and my husband) and move two hours away to live with my parents and rent our house out. I honestly don't want to move my kids school but I will if that is the best option in getting started with owning rental properties. Thanks for any advice.

[Steven Foster Wilson]

Originally posted by @Jasmin Thompson:

Is it smart to refinance right now to get equity out my home. I have a about 70k of equity in my home. I am looking to purchase my first rental. My other option would be to pick up my family ( 3 kids and my husband) and move two hours away to live with my parents and rent our house out. I honestly don't want to move my kids school but I will if that is the best option in getting started with owning rental properties. Thanks for any advice.

Columbus is an awesome market! I am born and raised, and know the local market like the back of my hand! Over the past 5 years I have seen industry & population growth in Columbus explode, and effectively it has raised our housing prices. I started investing in Columbus OH about 3 years ago, with an FHA loan. I bought a duplex, fixed it up enough to rent and eventually complete a BRRRR.