Want to cash out refi to invest more, but the interest rates...

[Jack B.]

I have cash on hand but not enough for the apartment complexes I want unless I take out a loan at 8.5% interest. I'd have enough to buy in cash if I did another cash out refinance like I did two years ago, but then I actually dropped my rate by 1% despite them being investment properties and bought more houses. Now I have equity sitting in there and going down, it's be great to be able to tap it before it goes down FURTHER but then I'll be cash flow negative and paying 8.5% on the rentals to buy an apartment complex in cash. That could retire me cash flow wise (I'm still working W2 career). But I'd be paying a lot of interest until I can refinance the houses, and who knows how long that could be. Feels like I'm in a holding pattern due to interest rates...

[Jack B.]

Quote from @Dave Skow:

@Jack B.- is your post asking about doing a cash out refinance on your home ? or on rental properties you own ? fyi - if you have SFR rental - max cash out refinance ltv is 75% of value .....2) if you dont have enought cash to buy the apartments - have you looked at commercial loan options for the amount you are shy ? might be more sensible that leveraging rental homes

 From my post:

then I actually dropped my rate by 1% despite them being investment properties and bought more houses. Now I have equity sitting in there and going down, it's be great to be able to tap it before it goes down FURTHER