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Updated almost 7 years ago,
Cash out refinance or save?
I am looking for some guidance on what my next move should be. I'll list my goals and what my small real estate portfolio looks like and my hope is you all can throw some ideas out there to help me reach my goals sooner rather than later
overall goal
- I am 36 and would like to fully retire by 55
- want to cash flow minimum 10k from rentals by the time I retire
- would like to purchase my forever home within 5 years. I am located in northern california.
- I'd like to leave my 9-5 job and focus on REI full time
- I'd love to also purchase properties to flip as well
current situation
- own 2 investment properties, total 3 units
- i have roughly 400k in equity including my primary home
- I did a cash out refinance on 2 properties last year to help buy the third.
like I mentioned above I am just trying to figure out my next move to help me get closer to my goals. thank you in advance.