Refi on my own home?

[Timothy Yen]

My wife & I purchased our first home on January 31, 2017... After listening to BP and reading the forums, I've found myself obsessed with the desire to own cash flow rentals.  My parents have done some flips in the past and hold an apartment and duplex with positive cash flow (in fact my father is not semi-retired and doing well with it while my mom still owns her own small business) 

I'd like to see about refi my own house to try and lower my monthly's or get some cash back from the closing to invest in RE.  

We got a conventional 30 year fixed, $522,750 loan - paying around $3610 total (includes $14k annual NY property taxes)  My intention was to lower my monthlies & now realized i could have used that money for a deal!!  oh well.   The balance on the loan is $514,000.

Any tips/suggestions/advice?! PS - i'm very new to RE and will be attending my local REIA on January 4 and I'm bringing my parents so that they can hopefully learn something and network as well.

Cheers,

Tim