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Updated about 3 years ago on . Most recent reply

Andy Bailey's profile image
Andy Bailey's profile image
Andy Bailey
  • Investor
  • from Eugene, OR
  • Member since Oct 10, 2018
  • Posts 46
  • Votes 35
  • Experience 7 Yrs
  • Investments 3
Connect

User Stats

46
Posts
35
Votes
Andy Bailey's profile image
Andy Bailey's profile image
Andy Bailey
  • Investor
  • from Eugene, OR
  • Member since Oct 10, 2018
  • Posts 46
  • Votes 35
  • Experience 7 Yrs
  • Investments 3
Connect
Andy Bailey
  • Investor
  • Eugene, OR
35
Votes |
46
Posts
Buying & Selling Real Estate

Cash out Refi or New Mortgage for New rental property

Andy Bailey
  • Investor
  • Eugene, OR
Posted

Hi all, I have a duplex which has about 250k in equity, and based on the 70% rule I have more than enough to use a cash out refi- and pay cash for a rental property. Both I would pay 25% down out of pocket. 

My thought it would be better to do the cash-out refi, because that will keep one less Mortgage on the books. Thoughts? 

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