How can I leverage this equity?

[Bradley Swett]

After I refi, I will have about $550,000 in equity in my primary residence. It's an LTV of around 65%.

What are things I can do to progress my investment portfolio?

If I was to take money out of the home, how much do you think I could get?

What strategies am I not thinking about in terms of leveraging this residence?

[Henry Clark]

1.  If you refi, do it with the bank who will do your next investment step.  Other banks don't like or will not take a second mortgage position.  This forces you into taking cash out and going through another refi.

2. If you make your next investment with this same bank it will be easier since they already have your equity tied up and more importantly know you and you finances.  It's a headache working with 4 banks.

3.  Bank loan cap rate.  The Fed sets for each bank it's loan cap rate.  Could be $1mm per customer or could be $100mm; depends on their size.  Make sure your bank has a large enough loan cap rate to fit your needs.  Actually don't go with the largest bank.  Get a mid level bank so the loan officer will be there in two years and you have a relationship.

4. Your in the Real Estate business. Do your PMI calc and this would be your lower limit of taking cash out.

5.  Sorry, but I have bad thoughts about California, luckily your there and can assess the climate in your specific locale.  What devaluation can you take on your home, if your extended on loans?  Are you one law, one riot, one tax, one corporate HQ move,  one fire, one water restriction, one whatever; from your home being devalued and being under water.  Realize this is not an optimistic look, but I would factor that into how far would you finance.

6. If your financially strict, you might pull out your max loan level and park the funds. (not in bonds or the stock market). This makes it easier to move with new assets. For example; an SBA loan with 10% LTV with $100,000 is $1,000,000 investment.

7.  I would consolidate all loans under one Bank.  It would be bad to have equity with one bank and be under water with another; that forces you to refinance during low valuation periods.  Also less paperwork.  

Your starting from a Great position, so determine your risk score.  Wealth conservation or Wealth generation.