Refi or Sell to get the most cash out?

[Joel C.]

Hello,

I have several rental properties I'm thinking of liquidating to move the cash into other assets. But, I'm going back and forth on whether it's better to sell or refi. In my area I think real estate has gotten way overpriced and I anticipate the market to reverse downward, which is one reason I'm looking to sell and get out of real estate for a short time, to then buy back at lower prices. Here is my portfolio. I'd love some feedback and guidance.

Property 1 (Duplex): Value = $550k, Debt = $150k, Cashflow = $1150/m
Property 2 (SFR): Value = $200k, Debt = $61k, Cashflow = $483/m
Property 3 (SFR): Value = $111k, Debt = $0, Cashflow = $1000/m
Property 4 (SFR - Personal Residence): Value = $473k, Debt = $159k, Cashflow = $0
Property 5 (SFR): Value = $142k, Debt = $112k, Cashflow = $285/m
Property 6 (SFR): Value = $144k, Debt = $103k, Cashflow = $434/m

My goal is to get as much cash out so I can roll that into other asset classes. 

Thanks for your guidance and I won't consider it financial advice ;)

[Scott E.]

A wise man once said that time in the market beats timing the market.

With that being said, calculate exactly how much equity you think you could pull from all of these assets if you sell them all. Then calculate what your current cash on cash return is on that money today.

Then ask yourself if you think you can beat that return deploying the capital elsewhere.

(also, unless you are able to facilitate a successful 1031, you will be faced with a tax bill which needs to be considered)