HELP-REFINANCING AND WORKING QUESTION

[Kathy Davis]

WHILE OWNING A FIRST RENTAL PROPERTY AND WANTING TO REFINANCE TO TAKE OUT EQUITY TO PURCHASE ANOTHER PROPERTY AND YOU DECIDE TO QUIT YOUR JOB [WHILE HAVING RENTAL INCOME COMING IN] WHAT IS THE CONSEQUENCE OF THIS? HOW DOES THAT IMPACT YOU FOR BORROWING IF YOU WANT TO REFI THE RENTAL PROPERTY AND BUY ANOTHER ONE - IS IT BETTER TO MAKE SURE YOU HAVE EMPLOYMENT INCOME COMING IN WHEN YOU ARE ONLY ON PURCHASING YOUR SECOND RENTAL PROPERTY?

IF SOMEONE CAN EXPLAIN HOW BORROWING/REFINANCING WORKS AFTER YOU DECIDE TO QUIT YOUR JOB, THAT WOULD BE GREAT.  I AM JUST NOT CLEAR IF IT IS ONLY BASED ON THE PROPERTY ITSELF - RENTAL INCOME PRODUCED, EQUITY/PROPERTY VALUE, ETC. VERSUS YOUR STREAMS OF INCOME, EMPLOYMENT BEING A BIG ONE.

THANK YOU,

KATHY