Pull Out Cash For Mort.To Fix Up House or Use Money for New Deal?

[Ryan Woodward]

Hello Everyone,

I am still super green when it comes to real estate investing. I have one multi unit that I have had for approximately 3 years. I live in one unit and rent out the other. I am very interested in the strategy of buying mutli units and renting them out. I bought when it was a buyer's market and now I can refinance and pull out a good deal of cash. I realize this is a super basic question and more info might be needed, but I wanted to see what you all thought: Do I pull out the cash from the refinance to continue to fixing up the property or do I use the cash to put a down payment on another unit? My current propert(ies) needs approximately $20,000 to $30,000 to be in tip top shape. I have a good tenant, but they have discussed moving in the future. Anyway, any information is helpful. Than you all!