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Updated almost 4 years ago on . Most recent reply
Refi, Cashout or Sell?
Hi all!
I have property in Idaho that I'm moving away from. I intended on renting so I am considering refinancing only, refinancing for cashout or selling. Not sure what to do, looking for input. Details below.
Option 1) refi for lower rate only: this will allow for smaller payment so better cashflow on rental and property paid off in 27 years.
Option 2) refi for cashout: less cashflow on the rental but a good amount of money towards next house purchase downpayment and property paid off in 27
Option 3) sell: most money towards next house downpayment but no more rental property
Some background: newbie with two other single family rentals not including the property in question.
Goals: continue to invest to build wealth and trying to expand into learning about apartment syndication to replace current work.
What are you guys doing? Thoughts on my situation? Thank you!