Refinance question for current mutihome investors

[Chris B.]

Hi All, I am building my portfolio using the BRRRR strategy. The last property I refinanced, after purchase and rehab, I was all in at just under 105 K. The bank appraised it @ 190K.

The bank would have given me up to 75% value.  142.5K @ 5.5 %.  With the taxes and insurance.  I would just break even with the $1550 I receive in rental.  

I ended up taking a 60% value and got 114K return.  I just wanted to be conservative and getting a few hundred in return every month. In case the s&^7t hits the fan so I was taught by bigger pockets podcasts.

  Is this the right way to build the portfolio?

So what do you all think?  Take a bigger profit up front and reinvest (75% and have no monthly profit any more until loan is paid off) ?  Or stay conservative? So many decisions...  Looking for some experienced investors that have been here and done that to share some knowledge on this.

Any advice would be greatly appreciated.   Closing on a new property next week and trying to get one more under contract this month, but learning as I go...

Ready, fire , aim...   lol.. 

Thanks. 

 Chris