Should i cash out refinance?!

[NIcholas Hamel]

Hey all, i need some help. I want to get into real estate more. I have a rental property that rents exactly what I pay for the mortgage. The bank is willing to give me upwards of 90k in a cash out refinance. The interest rate will be almost the same either way but Should I do the refinance to take this money out and reinvest it???? Any help would be great!!

Nick

[Jaysen Medhurst]

@NIcholas Hamel, if the rent is the same as the mortgage, you're losing money. Unless you are seeing some phenomenal appreciation (no guarantee that will continue or even reverse), you should sell. Take your profit and use a 1031 exchange to purchase a cash flowing MFR.