Refinance to 30 year mortgage to increase cash flow?

[Leigh Ann Lozano]

My husband and I have 5 SF rentals. One paid off and 4 others with substantial equity. We are debating on cash out refinancing one property and taking the proceeds to purchase other rentals and potentially completely pay off one of the other properties.  Our question would be is it wise to use those funds to pay off another property to increase cash flow and have two paid in full properties.  Any input appreciated.

Thanks 
Leigh Ann 

[Heather Wilkerson]

Leigh Ann -- have you setup a long-term investing plan? My husband and I are doing the Wealthability plan through Tom Wheelwright and loving it. It helps you think through how to allocate your assets to achieve your goals the fastest. Tom Wheelwright is a Rich Dad Advisor.

That said, with interest rates as low as they are, if you are able to get fixed rate mortgages and take cash out, I would suggest that. Rates really can't get much lower.