Cash Out Refinance on Primary Residential Property

[Joe Tran]

BP Fam,

After all the BRRRing I've been hearing, I've been curious about the benefits (and risks) of a cash out refi on the primary property. Attached is an estimation worksheet that the bank gave me, I'd use the money to invest back into other SFH or multifamily opportunities. My question is how does this look like from a tax sense? Do I pay any taxes or fees other than what's on the worksheet on the equity I take out? What's the risk I'm taking other than prolonging my 30 year conventional loan? Creative thoughts and ideas appreciated!