Financing more than 100%

[Lisa Green]

If you had the opportunity to finance more than you spent on a property - at a fixed rate for 15 years - would you do it? Or would you dial it down to improve cash flow?

On the property that we just finished, we're all in at $65k and the lender will allow us $89k based on appraisal. If we pick up this extra $24k, we can pay down variable debt or invest in other properties.

However, this obviously is not good for cash flow. The rent would more than cover PITI, but the cash flow will be nowhere near what we're accustomed to getting. We're up to about 20 SFRs, so we can't get 30-year fixed-rate mortgages anymore.

Thoughts?