cash out refi

[Dave Krage]

Hello I am buying my fifth sfr right now. I am toying with refinancing my first rental right now also because you know when you get a loan you have to give them your life story now so I figure if im doing one loan they will have everything for the refi also. I have owned it for 4 years I have a 5.675 rate now and can get a cash out of 40000 at 4.25. My payment will go up 143. That will give me around 450 left over after all payments. I would like the money so if I find a deal I can jump on it. Does this make sense. One thing you need to know about me is I do all the managing and fixing at my properties I am in the trades so if I can't fix I know someone that can. Thanks Dave