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Updated about 8 years ago,
2 Properties which should I Refi
Hello BiggerPockets I am brand new to this site. I recently did my first BRRRR Investment before i even knew it was an actual investment strategy. Anyways its time to pull money out and start looking for my next one. But i have 2 options. The mortgage I have now on the rental property I owe $133,000 at 4.5% and the ARV is $245,000. The house I live in has about $72,000 in equity and my rate is at 4.0% My question is should I refi the rental for a new rate of 5% or the house I live in for a new rate at 4.75%? Seems like a simple answer by going with refinancing the rental just wondering if anyone had any other strategies.