Any advice on pulling Equity from homes

[Ruben Rojas]

Currently have 2 Toledo homes owned free and clear I'd like to pull equity on. Looking for the best place to do this and any advice anyone has.  

[Alan Grobmeier]

@Ruben Rojas, my advice:  DON'T do it.  At least right now.  

I recently looked at pulling about 300k out of 4 different properties.  I don't own them free and clear.  I have mortgages on all of them, but ALL have appreciated nicely since my purchase.  

When I did the analysis on them, I quickly realized I would probably be paying more in interest than I would net in a new investment.  For example:  My new interest rate would be 5.125.  My current interest rates are 4.375.

If I used ALL this new money for a new purchase, my net positive cashflow would be LESS than what I have presently.  The reason is that the 'new' money is costing me too much when compared to what it is costing me today.

Doing this while facing down the barrel of a recession?  Not a good idea.  LOL

Hope that helps.