How soon is too soon to refinance

[Karen Jackson]

Hey BP!

I have a question. How soon is too soon to refinance. I have a rental property that I've had for 3 Years. I Which I'm currently paying $2700 per month on. Which includes food insurance, home insurance, and PMI. I recently got offered a chance to refinance out of this FHA into a conventional and to get rid of the PMI Insuance which can save me at least $300 per month. My current interest rate is 3.5. I was quoted at 3,8. Does It make sense to do this refi right now? Just curious because I was talking with a relative that I'm RE and she mentioned that it's way too early to start refinancing.

Any thoughts? Thanks!!