To refi or not

[Gerry W.]

Hi Guys -

First real post here. Here goes:

My vacation rental has appreciated very well and is now worth around 400k. I currently owe 170k. My interest rate is 4.5% 30 year.

I want to continue to grow my portfolio of properties. For my next property would it be wise to refi and take equity out of my VR and use that money to acquire other properties? Or would it be better to leave that equity alone and search other avenues?

I am trying to cover all of the angles on both the pros and cons.

This will also help me pitch it to my wife as well ;)

Thank you very much,

Gerry