Cash out refi on 10 properties?

[Chris Hill]

I have 10 doors. I have lots of equity in all 10. I’m in the process of doing a cash out refi on 5 of them, to pay off the other 5. My goal is to free up 5 more mortgages in my name. This will increase my payments on the remaining 5 by about $250, but I’ll still be cashing flowing about $300 per door.

Now, I’m thinking why not do more cash out refis in the remaining 5? I would have a huge chunk of change for future purchases. Would I be over leveraging myself too much? With all 10 refi-ed, I would still have positive cash flow at the new higher payments. And then I could do a portfolio loan to buy more properties, since I would still have 10 personal loans.  Is it better to have lots of cash available versus paying off half the properties?

Good or bad idea?  How would I get I to trouble in this scenario?

[Leah Slaughter]

Leveraging (within reason) is how you build an empire. There are blanket portfolio cash out loans that would be a great option and that would open back up 10 doors to go do 10 more Fannie Mae loans. Call Chris Hamilton at Origin Bank. He is amazing.