Cash out refinance Advice

[Adrian Romero]

Cash out refinance

Hi guys I’m looking for advice from experienced investors. I currently own 3 multi units in Los Angeles. All purchases were bought from 1031 exchanges. My dilemma is, should i do a cash out refi. The reason why I’m considering doing a cash out refi is because i know the cost of properties are high and interest are still low. If I do refinance I will throw the money in to money market account and wait for the price of real estate to become more affordable. The reason why I don’t want to cash out is because of inflation and lost cash flow. Also I will be putting the money into a savings account hoping real estate cools down.

Property Status

Principal - $260,197

Interest - 5.25%

Payment - $2,036

Rent Roll - $3,800

Expenses - $275

Value of property - $600,00

Cash out - $ 90,000

New Loan - $356,000

Interest - 4.875%

New payment $2,335