What to do, what to do?

[Shaun Hunt]

As of now, I owe $70,000 plus a $43,000 HELOC on my primary.

I owe $52,000 plus a $50,000 HELOC on rental #1

I owe $70,000 on rental #2 and have a $76,000 untapped HELOC.

I owe $90,000 on rental #3 without a HELOC.

I owe $96,000 on rental #4 that I have a lease option due in 1.3 years at $165,000.

I will acquire rental #5 within the next three weeks. I will owe $108,000 plus I will use $45,000 of a HELOC as down payment.

The HELOCS are interest only. I pay a few hundred dollars a month on those.

My question is, Is now the time to refinance in order the get a lower fixed interest rate on my primary home and rental #1?

Here is what I see happening. The monthly payment will be higher, eating into my cash flow. My thoughts are to keep it the way that I have it now and not refinance. I will pay down the HELOCS over the next two years. I will use the proceedes from rental #4 to also pay down the HELOCS whenever tenant decides to buy the property, hopefully within 1.3 years. I will risk rates jumping between 5-12%. 

Is there someone that can talk me out of this or help me decide the best game plan? We can text, talk or blog. :)

I believe I can stay diciplined enough to make extra payments without having to refinance. Rates with HELOC are variable and are currently at 5.5%.

Thanks in advance

Shaun, Rookie Investor.