Long Term Rental Property Refinancing Frequency

[Wade Luhman]

What is a good general strategy for thinking about when to refi a rental property to pull out equity that you can use to continue to scale your business? Are you doing it based on time and the current financial product you have? Or when you hit a certain equity amount? I understand the real answer is “it depends”, so I’m not really looking for that. I’m closing on my first property in a month with cash and plan to finance it after that to pull my cash back out for the next one. I like the comfort of a 30-year conventional, but in reality, I expect to refi well before the 30 years is up. I’m currently thinking a commercial loan with a 7-year fixed rate and a 25-year amortization and just refinancing before the 7 years is up.Thanks.