Cash Out Refi on Duplex

[Brittany Shaver]

I purchased a new construction Duplex about a year ago (currently house hacking) at $359K and the value has gone up to $500K in the neighborhood. I was thinking about a possible Cash out refinance (not for the full $500k, but I'd like to get some of the equity out) and then using the cash for a down payment an another property. What are the pros and cons of doing so? Is there anything else I should take into consideration before making a decision? 

[Adri Jusczak]

Congrats on the equity! Don't overleverage yourself with a cashout refi. Make sure your numbers still work with the new loan. Your mortgage rate will most likely be more since rates have gone up recently. If it makes sense, refinance and get another door out of it!