Is now the time to pull out equity?

[Kevin Howard]

Hello BiggerPockets community,

This is my very first post...A little about me. I've been selling real estate in St.Augustine FL for 6+ years now. I have purchased three rental properties within the last two years and am lucky enough to have a lot of equity in each. I don't want to sell them however I am considering refinancing them while the interest rates are low. I have a quadruplex which has roughly $400k in equity (valued at $900k with a $500k loan) and another duplex which I own outright (valued at $400k). I don't necessarily need the money however I'm thinking about taking the equity out while the interest rates are low and "stock piling" cash to reinvest when the market dips. Just curious what the BP community thinks about future market predictions and what you'd do if you were in my situation (not a bad one to be in I admit).

I'm interested in purchasing more multifamily units however our market is extremely high and deals are very hard to find. I've been contemplating buying land zoned for multifamily and building new. This would ultimately help eliminate the things I struggle with (repairs/maintenance) and also allow me to rent to more qualified tenants. I have yet to meet with contractors to talk about cost to construct but that's on my to-do list. Any concerns with building multifamily?

Side note: I'd love to link up with investors, landlords, or anyone who has a passion for real estate in the St.Augustine area