Is it worth to get cash refinancing to buy another property ?

[Alex Tokmazeyskiy]

Bought a 2 flat 9 years ago in Chicago,  for 160k with 3.5% down. Now it's worth over 360k. I can get about 145k cash from it. Would it be worth investing that into a rentable 2 bedroom condo? I can get about 350 per month income from it probably. 

[Michael J Scanlon]

@Alex Tokmazeyskiy

Its all very nuanced but likely yes, it's worth it. You'd do well to buy even bigger than a condo and maximize your leverage. But you would have to analyze your total cash flow and return on investment versus your current return on equity. But on top of just simple ROI and ROE, you need to calculate your net worth returns from writing off interest expense, principal paydown on two properties, appreciation on two properties, etc.