better to just cash out refi later?

[Gene Jung]

Given the current rental property mortgage rate is well above 7.2, and it looks like it is not going to go down any time soon...i expect it will take 3 years to go down by 2 pp...

Is it still dumb to buy a 500k investment property full cash and plan to cashout refi in 2,3 yrs?  still recommend getting some 50% mortgage? thx experts

[Devin Peterson]

Quote from @Gene Jung:

Given the current rental property mortgage rate is well above 7.2, and it looks like it is not going to go down any time soon...i expect it will take 3 years to go down by 2 pp...

Is it still dumb to buy a 500k investment property full cash and plan to cashout refi in 2,3 yrs?  still recommend getting some 50% mortgage? thx experts

If you have the CAPITAL, it's never a bad idea to buy the scale. Waiting can only hurt you. You can refinance and gain back 75% of your value after 90 days. I wouldn't be so focused on interest rates and more so focused on where you can find a good deal that cash flows and increases your ROI.