Current BRRR Decision

[Tim Burdette]

I bought a single family fixer upper back in the summer for $125k, I currently owe about $99k on it.  I am done renovating and think it is worth around $170k now.  My current mortgage is $630 a month and I think I could rent the property for $1300 - $1400.  I have really good cash flow on the property but my question is this.  Is it a good idea to do a cash out refi now to buy another property (to move into and fix up) and sacrifice some cash flow on the current property or should I stay in this place for a couple years and save up to buy another place in the summer of 2018?

I currently have on SF rental plus the house I currently live in now.

[Darren Budahn]

It depends what your goals are. However, if you are looking to build a rental portfolio I would cash out refinance and get my money back to use on the next property. If you want to be in the rental business I would look at scaling the operation with solid cash flowing properties while hopefully using the same money over and over again