Just want to say a big Hello from I.E., CA

[Cuong Thai]

Good evening everyone,

Let me introduce myself. I am Cuong Thai, and I am new to this investing business. I found this website because I want to learn more about investing in real estate properties.

Currently, I own a home and have a rental property. My primary residence's mortgage balance is about 280,000 dollars (30 years fixed). We just moved into this residence about 5 months ago. My rental property's mortgage balance is about 34,000 dollars left on 5 years 2.74 fixed. I have about 4 years and 3 months left to pay off this mortgage. I want to do a refinance cash out (200,000 dollars) with this property and use this money to pay off some debts and invest in another SFR around here. I have a tenant in this house and currently pays 1800 dollars per month on rent. After paying my mortgage, tax, and insurance, I am left with around 900 dollars to spare.

What do you think of this idea? Any suggestions are welcome. My ears and eyes are open since this is totally new to me.

Thanks for reading my first post. I hope to learn and to contribute to this board for many more years to come.