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Updated about 8 years ago,
Refinance primary residence to buy rental property ?
Hey Guys,
I am new to real estate investing and looking to buy my first investment property here in Florida .
I already have a primary residence and my mortgage on the same is @4.3% for 30 year fixed .
I have been able to cut it down principal significantly by paying off early but I realized the benefit of passive income rather than paying of the house early .
Now I am wondering if I should refinance and take a buy out .Doing so will give me liquidity to purchase my investment deal/s but my primary residence will again be under bank .
Please suggest what should I be doing paying of my mortgage early or refinancing , cashing out and using that money to buy more investment deals ?
Your guidance is really appreciated !
Mac