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Updated almost 6 years ago on . Most recent reply

James Purvis's profile image
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James Purvis
  • Rental Property Investor
  • from Huntington Beach, CA
  • Member since Apr 28, 2019
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James Purvis's profile image
James Purvis's profile image
James Purvis
  • Rental Property Investor
  • from Huntington Beach, CA
  • Member since Apr 28, 2019
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James Purvis
  • Rental Property Investor
  • Huntington Beach, CA
4
Votes |
16
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Multi-Family and Apartment Investing

Should I do a Cash Out Re-fi?

James Purvis
  • Rental Property Investor
  • Huntington Beach, CA
Posted

I have two single family rental properties paid off and I want to go bigger and get into multi-family and am wondering if doing a cash out re-fi is the best way to go for the down payment? 

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Greg Scully's profile image
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Greg Scully
  • Rental Property Investor
  • from Johnson City TN
  • Member since Apr 13, 2016
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Greg Scully's profile image
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Greg Scully
  • Rental Property Investor
  • from Johnson City TN
  • Member since Apr 13, 2016
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Greg Scully
  • Rental Property Investor
  • Johnson City TN
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Greg Scully
  • Rental Property Investor
  • Johnson City TN
Replied

@James Purvis - Keep in mind that you get zero return on equity. 

Conservatively held debt for business purposes is how wealth is created.  I refinanced my personal residence from a 15 year to a 30 year to invest the tied up equity.  It also lowered my payment.

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