Should I sell or cash out refi?

[Brad Hunton]

I have the opportunity to buy three good cash flowing properties in a stable, steady growth area.

My question is should I sell one of my rentals that has been a pain but has all the bugs worked or should I cash out refi this and another property and buy the three new ones.

I did refi these two when rates were really low (3.1% and 3.3%) but never took equity out. Cash flow and equity would take a hit if I refinanced now but I would still come out way ahead on the purchase of the three new ones.

What would some of the more experienced investors do in my position?