Refinancing an Investment Property in Las Vegas, Nevada

[Ayen Lee]

hi BP community, I need advice on Refinancing my Rental Property in Las Vegas. I spent $55K( including Down payment , Repairs, Maintenance )on this rental property in SW area, LV in 2017. I wanted to refinance it to buy another Rental Property Im thinking of taking out $30K. I spoke to a lender and quoted me witha rate of  4.87% with cash out of $ 28K with closing cost of $2,800.Does this sound a good deal. Thanks!