Updated over 9 years ago on . Most recent reply
Refinancing a Rental
I am interested in the brrrr strategy but have a question on the refinancing part. My wife & I own a duplex that we rent out both sides. We have about $660,000 in equity and have owned it for 3 years. I spoke to a couple mortgage brokers about doing a cash out refinance with only $35,000 cash out and it already made it not worth the refinance. Our payment would have been more per month. My question is, that if this doesn't work in this case for just $35K out of the $660K in equity how could you ever get your money invested back using the brrrr strategy?