Extra mortgage payment or keep the cash?

[Joakim Esaiasson]

Hi everyone,

we are not sure what do, we have about $7000 in cash from our rental cabin this summer. We hope to buy a 2nd property in the next 6-8 month. 

My questions is what is best to keep it on the bank account or do an extra payment? We need refinance and pull some cash out when we buy the 2nd property.

Any suggestions?

Thanks

Joakim

[Mark Ferguson]

If you are going to refi, don't make any extra payments.