Cash out refi to buy more units?

[Chris Hill]

I have 10 doors.  I have lots of equity in all 10.  I’m in the process of doing a cash out refi on 5 of them, to pay off the other 5.  Thor goals is to free up 5 more mortgages in my name.  This will increase my payments on the remaining 5 by about $250, but I’ll still be cashing flowing about $300 per door.  

Now I’m thinking why not do more cash out refis in the remaining 5?  I would have a huge chunk of change for future purposes.  Would I be over leveraging myself too much?  With all 10 refi-ed, I would still have positive cash flow at the new higher payments.  And then I could do a portfolio loan to big more properties.  

Good or bad idea?