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Updated over 3 years ago on . Most recent reply

Jenna Banaitis's profile image
Jenna Banaitis's profile image
Jenna Banaitis
  • Appraiser
  • from Agawam, MA
  • Member since May 1, 2018
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23
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8
Votes
Jenna Banaitis's profile image
Jenna Banaitis's profile image
Jenna Banaitis
  • Appraiser
  • from Agawam, MA
  • Member since May 1, 2018
Connect
Jenna Banaitis
  • Appraiser
  • Agawam, MA
8
Votes |
23
Posts
General Landlording & Rental Properties

Cash out Refi - on our own home!

Jenna Banaitis
  • Appraiser
  • Agawam, MA
Posted

Hello everyone:

My husband and I are debating if we should refinance our current home and take out some cash to purchase another rental.  We have about $250,000 equity in the house we live in. We have done cash out refinances with past rental properties, but never with our own home. Is this stupid or smart? Help!  Thank you!

PS: Another thing to note: we are thinking of possibly relocating in two years - would this influence your decision? 

Jenna 

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