Would it be wise to do a cash out refinance before a recession?

[William Gantz]

Hello,

I was hoping to gain some knowledge as to refinancing a home. Would it be better to do a cash out refinance now and hold the equity of my home in case of a market collapse? I’m new to BP and was looking for some guidance. It’s a multi family home and I’m wondering if keeping the cash flow coming in as it is, would be smarter choice and holding a smaller mortgage, or if I would be better to take the equity out now and be ready to buy another property in the event of a recession.

Thank you in advance for any guidance!