Refinance or sell my commercial multi family units

[Angela Yan]

I acquired my 9 unit and 4 unit multi family units in 2018 and this month i am finally done seasoning them.  I rehabbed and renovated them raising rents from $500 per month to $700 to $800 per month per unit.  They are all 2 bedrooms one bath units some townhomes and apartments situated on several lots. I can even build on one of the empty lots across from of my 4 units to add more to that property.  What would be your play if you were me? Sell? 1031 exchange? Refinance cash out? All creative suggestions during these times are welcome. If you are interested in offering also let me know.  

[Stewart Beal]

I would recommend doing a cash out refinance and then reinvesting the proceeds into new real estate acquisitions.  If you can stretch the amortization and lower the interest rate, the principle/interest payments on the existing properties may not increase very much despite the higher loan balance.