Preparing for my next acquisition. Cash-out refi and wait?

[Matthew Pinkston]

Hello! I'm looking for some advice on purchasing my next property.

I currently have 4 duplexes purchased the better part of a decade ago. They've appreciated quite nicely and along with increasing rents, have decent cash flow as well. Therefore, I'm rather inclined to keep them (or maybe sell just one at the most).

But I am chomping at the bit to get back into the game and double my state-side holdings by buying at least another 8 units in 2018. 

Should I just go ahead and cash-out refinance them all now and sit on that cash until I find something? I've never done such a refi before and wasn't sure what the implications are. I don't have much cash outside of that equity, but I do have a pretty decent credit score.

What's your recommendation on how I should position myself to pounce on the next great deal?
(specifically looking for a multiplex somewhere in Iowa)

[Harjeet Bhatti]

You don't have property in hand. Paying interest on loan which you are not using won't be good option. Go to your lender run your figures, prepare the application in the system so you know you will be approved for cash out. Make sure your LO knows why you are preparing cash out application but not ready to cash out.